Indian Overseas Bank (IOB), a leading public sector lender, has announced the appointment of Akshit Choudhary as its new Chief Financial Officer (CFO), effective November 1, 2026, as part of a key management transition.
The bank’s Board of Directors approved the appointment at its meeting on October 27, 2026, and subsequently disclosed it through a regulatory filing to the stock exchanges.
Choudhary, currently serving as General Manager at Indian Overseas Bank, will succeed Madhaw Chandra Jha, Deputy General Manager, who has been holding the CFO position.
A Chartered Accountant with more than 15 years of professional experience, Choudhary brings expertise across banking operations, financial services, audit and assurance, integrated treasury and business management.
Throughout his career, he has held diverse responsibilities spanning branch management, regional operations and specialised financial functions. His professional experience includes assignments with Punjab & Sind Bank, State Bank of India and PwC SDC, giving him exposure to multiple areas of the financial services industry.
Choudhary, 40, holds a Bachelor of Commerce (Honours) degree and is a qualified Chartered Accountant. He also possesses the Certified Associate of the Indian Institute of Bankers (CAIIB) qualification and a Diploma in Treasury, Investment and Risk Management (DTIRM).
His professional development includes participation in the Board Leadership Programme conducted by Goldsmiths, University of London, in collaboration with the Management Development Institute (MDI).
With experience across more than five geographical markets, Choudhary has developed an understanding of regional banking operations, financial management and business requirements.
In his new role, he will oversee the bank’s financial management and reporting functions, supporting regulatory compliance, financial governance and strategic financial planning.
The leadership transition comes as Indian Overseas Bank continues to focus on strengthening its financial performance, expanding its banking operations and maintaining asset quality.
The appointment brings an experienced banking professional to the lender’s senior management team at a time when public sector banks are increasingly prioritising operational efficiency, financial discipline and sustainable growth.
