Indradahush project was launched to revitalize the public-sector banks with seven elements.
The seven elements include appointments, board of bureau, capitalisation, de-stressing, empowerment, framework of accountability and governance reforms.
Government has appointed two private sector professionals to lead two major public-sector banks- Bank of Baroda and Canara Bank. Managing director and CEO of VBHC Value Homes Pvt Ltd PS Jayakumar, a former Citi banker was appointed to head Bank of Baroda. MD and CEO of private sector lender Laxmi Vilas Bank Rakesh Sharma was will head Canara Bank.
