India Markets open in 16 mins

Govt appoints U S Paliwal as RBI nominee director on Corporation Bank's board

New Delhi: The Government of India has appointed U S Paliwal as the Reserve Bank of India nominee director on the board of state-run lender Corporation Bank with effect from April 25, 2012, the bank said.

The new director will hold office until further orders, Corporation Bank said in a filing to the stock exchanges Wednesday.

Paliwal is the chief general manager in the department of currency management of RBI, according to the central bank's website.

Shares of Corporation Bank Thursday were trading at Rs 401.8 on the Bombay Stock Exchange in later afternoon session, down 1.24% from the previous close.