Former Finance Secretary Hasmukh Adhia has been appointed as the part-time non-executive chairman and non-official director of the Bank of Baroda, as announced by the government in a notification released on Friday.
Appointments Committee of the Cabinet in a statement released said that they had approved the proposal by the Department of Financial Services and has appointed Adhia for a period of three years.
Adhia, who is an MBA gold medalist from Indian Institute of Management, Bangalore, has been credited for his key role in the implementation of Goods and Services Tax. Adhia has also served as secretary of the Department of Revenue and was earlier the principal secretary to the Gujarat Chief Minister.
Adhia will be joining the Bank of Baroda, at the crucial time when the bank is in its final phase of completing its merger two other public sector lenders (Vijaya Bank and Dena Bank). Post-merger, Bank of Baroda is expected to become the third largest bank in the country with a loan book of over Rs 6.4 lakh crores and a deposit base of over Rs 8.4 lakh crores.