Former Central Bank of India CEO Pallav Mohapatra appointed Arcil CEO

Former Central Bank of India CEO Pallav Mohapatra has been appointed as chief of Asset Reconstruction Co India Ltd (Arcil) with effect from March 8.

Mohapatra, a former State Bank of India (SBI) executive retired as Central Bank CEO at the end of February. The government has waived his mandatory one year cooling off period.

"Mohapatra will be responsible for leading the strategic direction and growth journey of the organization," Arcil said in a press release.


Founded in 2002, Arcil is India's oldest assrt reconstruction company. It currently manages assets of Rs. 12,000 crore. Its total employees are 230. Its shareholders include Avenue Capital, SBI, IDBI, ICICI, PNB and also GIC Singapore.

Mohapatra suceeds Vinayak Bahuguna, who left Arcil after five years at the helm in June 2020.

In his four decade long banking career, Mohapatra was also deputy managing director, stressed assets management group at SBI and also handled the bank's operations in Los Angeles, USA. He was also CEO of the bank credit cards business SBI Cards & Payment Services Ltd.