The Appointments Committee of Cabinet (ACC) has approved a proposal to appoint Shanti Lal Jain as the MD and CEO of Chennai-headquartered Indian Bank for three years. Presently Bank of Baroda's Executive Director, Jain's term at Indian Bank will start on September 1, 2021 and "is extendable by up to two years". Jain will take over from Padmaja Chunduru.