Further, the Govt. of India, Ministry of Finance, Department of Financial Services vide its Notification No. 4/4/2011 - BOI dated 30.08.2012 has notified that the financial and administrative powers of chairman and managing director shall be exercised by T R Chawla and Arun Tiwari, both executive directors of the bank, with the approval of the board of directors/management committee of the board as the case may be till such time a regular incumbent is appointed by the Government of India as chairman and managing director of the bank.
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