New Delhi: The Central Government has appointed Jitendra Asati as Director on the Board of Punjab & Sindh Bank, a public sector lender, with immediate effect and until further orders. He assumes the role in place of Ms. M.G. Jayasree, marking a significant change in the bank’s board-level leadership.
Mr. Asati currently serves as Director in the Department of Financial Services (DFS) under the Ministry of Finance, Government of India. An accomplished officer, he was the All-India Topper of the Indian Economic Service (IES), 2009 batch, and began his career as an Economist Bureaucrat in January 2010.
A Career Marked by Impactful Roles
Over the past 15 years, Mr. Asati has held several strategic positions across key government departments:
- In the Ministry of Finance, he has played a pivotal role in policy formulation and financial sector oversight.
- At India’s diplomatic mission in Washington, D.C., he was instrumental in enhancing India–US economic, trade, and investment cooperation, helping to build stronger bilateral economic ties.
- In the Ministry of Petroleum & Natural Gas, Mr. Asati served as Officer on Special Duty to the Union Petroleum Minister, where he was actively involved in executing critical reforms in the oil and gas sector — particularly in areas such as fuel pricing rationalization, subsidy reforms, and improving ease of living for consumers.
His cross-sectoral experience and understanding of domestic and global economic dynamics are expected to bring valuable insights and strategic depth to Punjab & Sindh Bank’s board.
Significance of the Appointment
This nomination reflects the government’s ongoing efforts to strengthen the governance and strategic direction of public sector banks by leveraging the expertise of senior economic and financial professionals. Mr. Asati’s deep experience in both policy and operations is likely to support the bank’s evolving priorities in areas such as financial inclusion, digital banking transformation, and risk governance.
Punjab & Sindh Bank has been actively improving its operational and financial performance over the past few quarters, and this leadership reinforcement at the board level aligns with broader public sector banking reforms under the Ministry of Finance.
About PSB
Punjab & Sind Bank (PSB) is an Indian public sector bank, wholly owned by the Government of India, with its headquarters in New Delhi. Established in 1908, the bank was nationalized in 1980 and provides a wide range of financial services, including operative accounts, deposits, retail and digital loans, and international banking, through its extensive network of branches and digital platforms across India. PSB is known for its commitment to customer service, financial inclusion, and serving the needs of various customer segments, from individuals to businesses.
