Page 31 - Banking Finance MAY 2017

PRESS RELEASE

State Bank of India Inaugurates the Bank of Bombay Heritage Gallery

‘Down Memory Lane’

‘Down Memory Lane’, the heritage gallery at the State Bank of India, Local Head Office at BKC, Mumbai is the story of
Bank of Bombay, indisputably the most charismatic of all the
forebears of State Bank of India. The gallery was inaugurated
by Shri Rajnish Kumar, Managing Director (National Banking
Group), State Bank of India on 17.04.2017.

The Bank of Bombay and its two siblings, the Bank of Bengal
and the Bank of Madras, were the dominant entities of Indian
banking in the nineteenth and early twentieth centuries. In
1920, these three presidency banks, as they were known then,
were amalgamated to form an all India bank – the Imperial
Bank of India. By an Act of Parliament in 1955, the State Bank
of India was constituted as the successor of the Imperial Bank
of India.
The Bank of Bombay had two incarnations first as the old Bank
of Bombay which operated between 1840 and 1867 and the
second as the new Bank of Bombay which operated between
1868 and 1920.
The Bank of Bombay despite operating in a far more competitive business environment than its two siblings emerged as
the most versatile in the financing of modern manufacturing industry in general and Indian manufacturing firms in
particular. A significant Indian representation on the board also ensured an open shareholder and employee-sensitive
management style unknown to most banks then.
A succinct presentation of the histories of the Bank of Bombay and the display of rare and invaluable documents make
the heritage gallery a memorable experience for the visitor.

Shri Mahesh Kumar Jain takes charge as the Managing Director &

Chief Executive Officer of IDBI Bank
Shri Mahesh Kumar Jain has assumed charge as Managing Director & CEO of IDBI Bank with effect from April 03, 2017.
Prior to the current assignment, Shri Jain was the Managing Director & Chief Executive
Officer of Indian Bank.
Shri Jain had joined Indian Bank as an Executive Director in September 2013 where he
handled key portfolios such as Corporate & Retail Credit, SME Credit, Risk Management,
Recovery & Legal, Accounts, Technology Management, Banking Operations
Department, Business Process Re-engineering and Compliance Department. Prior to
joining Indian Bank, he served as General Manager with Syndicate Bank and handled
various portfolios, including Credit, Operations, Investments, Risk Management, etc.
He began his banking career with Punjab National Bank.
He was a member of the Steering Committee on Risk Management of IBA and a
Member of the IBA working group on Risk Management and implementation of Basel II and III. He was also the Secretary
& Coordinator to Basant Seth Committee on Review & Revamp of Internal & Concurrent Audit System in PSBs. At present,
Shri Jain is a member of the NIBM Governing Board, PGDM Executive Council of NIBM, CII National Committee on Banking
2016-17 and CII National Council on Financial Sector Development 2016-17. He holds M.Com., MBA, CAIIB, CFA and
FRM to his academic credit.

BANKING FINANCE | MAY | 2017 | 31

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