- The National Federation of Urban Cooperative Banks and Credit Societies Ltd., which is the leading organization for urban cooperative banks, has appointed Rakesh Dua as its new Chief Executive Officer.
- He will be stepping into this role on a temporary basis for the first three months.
- Sources reveal that this decision was made during a meeting of the Executive Committee, led by Laxmi Dass, the Chairman of NAFCUB, on March 2.
- It was at this meeting that Dua was chosen for the top executive position, and he officially took charge on Tuesday.
- Initially, Dua will hold this position for three months, after which there will be a review of his performance to determine if he will continue in the role.
The National Federation of Urban Cooperative Banks and Credit Societies Ltd., which is the leading organization for urban cooperative banks, has appointed Rakesh Dua as its new Chief Executive Officer. He will be stepping into this role on a temporary basis for the first three months.
Sources reveal that this decision was made during a meeting of the Executive Committee, led by Laxmi Dass, the Chairman of NAFCUB, on March 2. It was at this meeting that Dua was chosen for the top executive position, and he officially took charge on Tuesday.
Initially, Dua will hold this position for three months, after which there will be a review of his performance to determine if he will continue in the role.
Before this, Rakesh Kumar Dua worked as a consultant in the Cooperative Ombudsman’s office under the Ministry of Cooperation, leaving that position just two to three months ago. He comes with a wealth of experience in cooperative administration and banking, having previously served as the Regional Director for the National Cooperative Development Corporation in Dehradun.
Additionally, he has held the role of Chief Executive Officer at the Saharanpur District Cooperative Bank and has professional experience with Punjab National Bank.
NAFCUB serves as the primary representative body for Urban Cooperative Banks in India, playing a crucial role in addressing and advocating for issues related to the cooperative banking sector and credit societies with key authorities, including the Reserve Bank of India, the Union Ministry of Cooperation, and other regulatory and policy-making organizations.