AS Rajeev has been appointed as the Vigilance Commissioner in the Central Vigilance Commission (CVC) by the President of India. This appointment comes under the powers vested in the President under Section 4(1) of the Central Vigilance Commission Act, 2003.
AS Rajeev, a distinguished career banker with an extensive 38 years of experience across Syndicate Bank, Indian Bank, Vijaya Bank, and Bank of Maharashtra, took his oath as Vigilance Commissioner on 11th March 2024. The oath was administered by the Central Vigilance Commissioner, who was authorized by the President of India in accordance with Section 5(3) of the CVC Act 2003.
During his tenure as the Executive Director in Indian Bank, Rajeev played a pivotal role in transforming the bank into one of India’s strongest and most profitable banks. Under his leadership, Indian Bank achieved the lowest non-performing assets and highest capital adequacy ratio in the industry.
As the Managing Director and CEO of Bank of Maharashtra for the past five years, he has successfully guided the bank out of the RBI’s Prompt Corrective Action, steering it towards becoming a robust mid-sized bank. His strategic leadership elevated Bank of Maharashtra to one of the top-performing Public Sector Banks (PSBs) in the country, excelling in major business and profitability parameters with outstanding asset quality.
In addition to his banking roles, he has also served as a Nominee Director in prestigious institutions such as EXIM Bank, New India Assurance Co Ltd, and the National Payments Corporation of India (NPCI). He has also held the position of Vice Chairman of the Indian Banks Association and was a Member of the Core Group constituted by RBI for the implementation of Indian Accounting Standards.
The swearing-in ceremony was attended by senior officials from the Department of Personnel and Training (DoPT), Central Bureau of Investigation (CBI), Enforcement Directorate (ED), and the Central Vigilance Commission.
The Central Vigilance Commission Act, 2003, mandates the appointment of a Central Vigilance Commissioner and two Vigilance Commissioners. The tenure of a Vigilance Commissioner is four years or until the incumbent reaches the age of 65 years.
