Govt appoints Mallikarjuna Rao as MD and CEO of PNB
New Delhi, Oct 1: Ch S S Mallikarjuna Rao was on Tuesday appointed the Managing Director and Chief Executive Officer of Punjab National Bank, an official order said.
Rao, 57, currently the Managing Director and Chief Executive Officer of Allahabad Bank, has been appointed to the new post up to September 18, 2021.
"The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for posting of Ch. S. S. Mallikarjuna Rao, Managing Director and Chief Executive Officer in Allahabad Bank as Managing Director and Chief Executive Officer in Punjab National Bank, with effect from the date of assumption of office, till 18.09.2021 or until further orders, whichever is earlier," the order said.
The government in August merged United Bank of India and Oriental Bank of Commerce with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).
In a separate appointment, the ACC approved the appointment of Pradipta Kumar Bisoi, a 1985-batch Indian postal service officer to the post of Secretary, Department of Posts, in place of Ananta Narayan Nanda upon his superannuation on October 31.
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Man arrested with Rs 2.54-crore heroin in Mumbai
Mumbai (PTI): Police have arrested a man and seized over 500 grams of heroin worth Rs 2.54 crore in the illicit market from him in Mumbai, officials said on Friday.
The police's Anti-Narcotics Cell (ANC) made the drug seizure in Santacruz in the western suburbs. The operation was conducted by the Kandivali unit of the ANC on Thursday as part of a special crackdown against drug trafficking in the area, they said.
Acting on specific inputs, an ANC team conducted a raid in Santacruz (East) and intercepted a man. During a search, the team recovered 508 grams of high-grade heroin from his possession, an official said.
The seized contraband, a highly addictive, opioid drug derived from morphine, is estimated to be worth Rs 2.54 crore in the international market, he informed.
Following the seizure, a case was registered against the man under relevant sections of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, and he was formally placed under arrest in the early hours of Friday.
The police are currently investigating the source of the drug and trying to identify the intended recipients of the consignment, he said.
