Mumbai, Nov 23 (PTI) Indian Banks Association on Monday said its managing committee has elected Union Bank of India Chief Executive Rajkiran Rai as the lobby grouping's chairman for 2020-21.

SBI's chief Dinesh Kumar Khara and Mashreq Bank's country head Madhav Nair will be the deputy chairmen, while IDBI Bank's Rakesh Sharma will serve as the secretary for the term, an official statement said.

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Other elected office-bearers include S S Mallikarjuna Rao of Punjab National Bank, it said.

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* * N Ramesh takes charge as Exim Bank deputy MD

Exim Bank on Monday said N Ramesh has taken over as the deputy managing director of the policy lender.

Ramesh, an officer of the Indian Telecom Service's 1999 batch, was serving as the executive director of the National Agricultural Cooperative Marketing Federation of India before this assignment, an official statement said.

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* * Need to increase financial literacy: G P Garg

Sebi's executive director G P Garg on Monday said financial literacy is very low at 27 per cent as against an overall literacy of 80 per cent, and there is a need to increase the same.

He appreciated the leading bourse NSE's drive for investor awareness which will see over 500 webinars and quiz competitions being held over the next week.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)