The Board of Indian Overseas Bank has appointed Akshit Choudhary as Chief Financial Officer with effect from November 1, 2026. According to the latest disclosure filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this appointment replaces Madhaw Chandra Jha, who currently holds the position as Deputy General Manager. The board meeting was held on October 27, 2026, with the session commencing at 11:30 am and concluding at 4:30 pm. The appointment was formally announced to the stock exchange, indicating the bank's commitment to maintaining strong financial leadership.
Akshit Choudhary, 40, brings over 15 years of professional experience across multiple financial sectors to his new role. As confirmed in the latest disclosure, he holds the qualification of Chartered Accountant and has worked across banking, financial services, auditing, treasury, and business operations. His comprehensive qualifications include B.Com (Hons) degree, CAIIB, and a Diploma in Treasury, Investment and Risk Management (DTIRM). His career includes significant stints with Punjab & Sind Bank, PwC SDC, and State Bank of India. His functional expertise spans Audit & Assurance, Integrated Treasury, Branch Management, and Regional Management, having worked across more than five geographies to gain insights into diverse markets and regional business dynamics.
This leadership transition represents a key appointment within the public sector banking industry. The disclosure confirms that the relationship between directors is not applicable for this appointment, and the filing was signed by Raghuram Mallela, Deputy General Manager and Company Secretary & Compliance Officer. The appointment places a professional with experience in treasury, auditing and banking operations in charge of the lender's finance function. Choudhary's background across branch-level operations and head-office responsibilities provides exposure to different aspects of banking management. The timing of the announcement on October 27, 2026, provides stakeholders with adequate notice of the upcoming leadership change.
