Punjab National Bank names Rakesh Sethi executive director

Sethi has been appointed as director for a period of five years replacing Nagesh Pydah.

Punjab National Bank (PNB), the country's second largest public sector lender, on Monday announced that it has appointed Mr Rakesh Sethi as its executive director for a period of five years.

"Rakesh Sethi has joined on January 1, 2011, as executive director of the bank for a period of five years or until further orders, whichever is earlier," the bank said in a statement.

The appointment of Mr Sethi, who has replaced Mr Nagesh Pydah, came into effect from January 1, according to a report in Net Indian.