V G Kannan took charge as Chief Executive of the Indian Banks’ Association (IBA). He succeeds M V Tanksale who demitted office as Chief Executive on August 9, 2016 after being at the helm for three years.

• Kannan had retired as Managing Director & Group Executive (Associates & Subsidiaries) of State Bank of India on July 31, 2016.
• IBA is a self-regulatory organisation of banks. The 70-year old body has 237 members comprising public sector banks, private sector banks, foreign banks having offices in India, co-operative banks, regional rural banks, and all India financial institutions.

objectives of IBA

• The objectives of IBA, are to promote and develop in India sound and progressive banking principles, practices and conventions and to contribute to the development of creative banking;
• to render assistance and to provide various common services to members and to the banking industry; to develop and implement new ideas and innovations in banking services, operations and procedures;
• and to organise co-ordination and co-operation on procedural, legal, technical, administrative or professional problems and practices of banks and the banking industry.