Ajai Kumar assumes charge as Corporation Bank CMD

Ajai Kumar assumes charge as Corporation Bank CMD

Mangalore Today News Network

Mangalore, October 1, 2011: Mr Ajai Kumar, who has been appointed Chairman and Managing Director of Corporation Bank, assumed office today. Before his appointment as Chairman and Managing Director of Corporation Bank, Mr Kumar was Executive Director of UCO Bank since 2009.

Mr. Ajai Kumar is a Law Graduate and a Post Graduate in Physics from University of Allahabad. He is a Certified Associate of Indian Institute of Bankers (CAIIB). Mr. Ajai Kumar has a distinguished career in banking industry. He started his career with Bank of Baroda joining as a Direct Officer in the year 1973.

In his thirty six years of service in Bank of Baroda he had held various positions handling key responsibilities in Head Office, Zonal Offices, Branches, New York Office and Off-shore Banking Operations of Nassau, Bahamas, covering a vast spectrum of banking operations.

Basically an operations man, his career at Bank of Baroda was spent in the field, where he could gauge the market pulse and take pro-active, result-oriented measures to garner market share. A man with a penchant for independent thinking, Mr. Kumar has painstakingly taken several initiatives for bank’s growth through varied strategies. He also played a pivotal role in strengthening and consolidating Retail Business with centralized process through Retail Loan Factories and introduction of several new value-based products for customers.  His hands-on and practice-driven experience facilitated balanced decision making with insight into all aspects.

During his tenure in Information Technology Division in Bank of Baroda, Mr. Kumar was responsible for 100% automation of the Branches and migration to Core Banking Solution, putting in place Wide Area Network of the Bank, enhancement of technology platform through RTGS, NEFT, Cash Management Solution, Phone Banking, Internet Banking, Retail Depository, Institutional On-line Trading, Data Warehouse, Global Treasury, Risk Management, Anti-Money Laundering, Human Resources Information System, Centralization of SWIFT, City Back Office, Regional Back Office, Internet Payment Gateway etc. 

Mr. Kumar also secured Outstanding Award for the paper submitted on “Knowledge Management – A Perspective for Public Sector Banks” in BECON 2003.  He was also a Member of the Board of Directors at Indo Zambia Bank Ltd., and later National Payment Corporation of India.