Panda is not new to leadership: he is a 1987-batch IAS officer of the Uttar Pradesh cadre who led the Insurance Regulatory and Development Authority of India (IRDAI) and served on boards like RBI, State Bank of India (SBI), and Life Insurance Corporation of India (LIC).
His arrival comes just as current chairman Anup Kumar Sinha gets ready to wrap up his term in July 2026.
The bank still needs a few more internal approvals, but it is aiming for a smooth handover.