Dhanakaar Ramas Rao, the MD and Chief Executive Officer of the MNCS Group has been appointed as the Chairman of the Board of Directors of the Indian Bank of Commerce (IBC) on a one-year contract.

Rama Rao was appointed as MD and Co-Founder of the DMV group in December 2016.

He has held various roles with various companies, including as the CEO of the state-owned bank, the first national chair of the National Consumer Policy Foundation (NCPF), and as the head of the World Bank’s Financial Sector Group.

Ramas Rao is the second Indian MD to be appointed to the Bank of India.

The first was Raghavendra Raghavan in January 2017.

Raghuvans appointment was followed by a three-month period of tenure for Vijay Mallya.