Rakesh Sethi was appointed as Chairman and
Managing Director (CMD) of Allahabad Bank on 12 March 2014. Sethi will take
charge of CMD with immediate effect as the post was lying vacant since January
2014 when Shubhlakshmi Panse retired.
He
will serve the Bank till his retirement on 30 April 2017. He was an executive
director of Punjab National Bank (PNB)
till this appointment.