Indian Overseas Bank appoints Akshit Choudhary as CFO from 1 Nov 2026

Management change
Banks

Blacklitt Research27 October 20262 min read

Indian Overseas Bank (NSE: IOB) said in a filing on 27 Oct 2026 that its Board of Directors has appointed Mr. Akshit Choudhary, General Manager, as Chief Financial Officer with effect from 1 Nov 2026, in place of Mr. Madhaw Chandra Jha, Deputy General Manager.

Who is taking over the CFO role

The Board appointed Akshit Choudhary as Chief Financial Officer in a meeting held on 27 Oct 2026. The filing gives the reason for the change as his appointment in place of Madhaw Chandra Jha, and the appointment takes effect on 1 Nov 2026.

Choudhary is a Chartered Accountant, aged 40, with over 15 years of experience across banking, financial services, auditing, treasury and business operations. He holds a B.Com (Hons), CAIIB and a Diploma in Treasury, Investment and Risk Management. The filing lists earlier stints with Punjab & Sind Bank, PwC SDC and State Bank of India, and says he has worked across more than 5 geographies.

The filing discloses no relationship between Choudhary and the Bank's Directors.

What the CFO change means for Indian Overseas Bank's shareholders

The change replaces the Bank's Chief Financial Officer from 1 Nov 2026. The filing does not say why Jha is leaving the role, whether he has resigned, been removed or moved to another post, or what new role, if any, he will take. It also does not give Choudhary's remuneration or say whether any approval beyond the Board decision is needed.

The next dated step in the filing is the effective date of 1 Nov 2026.

At a glance

Item	Detail
Company	Indian Overseas Bank
Appointee	Akshit Choudhary, General Manager
Role	Chief Financial Officer
Replaces	Madhaw Chandra Jha, Deputy General Manager
Board decision	27 Oct 2026
Effective date	1 Nov 2026

Reference: Original filing (PDF)

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