Fact Box: Indian Banks’ Association (IBA)

K R Kamath re-elected as IBA’s Chairman

K R Kamath, the chairman and managing director of Punjab National Bank (PNB), has been re-elected as the Chairman of the Indian Banks’ Association (IBA) for 2013-14 tenure.

Indian Banks’ Association (IBA)

  • Established on September 26, 1946.
  • It is an association of Indian banks and financial institutions. It is based in Mumbai.
  • Currently represents a total of 173 banking companies which are operating in India. 
  • Objective: Strengthening, development and coordination of the Indian banking. It also facilitates various member banks.
  • The Managing Committee of the IBA consists of a chairman, three deputy chairmen, one honorary secretary as well as 26 members.

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Susan Rice will be US National Security Adviser

President Barack Obama to appointment Ms Susan Rice as national security adviser for US Govt. Ms Susan Rice who currenttly US ambassador at the UN, will take over the position in July 2013 from Mr Tom Donilon.

The decision to appoint Ms Rice is a noncompliant gesticulate towards Republicans in Congress. The position of national security adviser does not necessitates Senate confirmation. Ms Rice’s appointment underscores the President Obama’s orientation for filling his inner circle with people he knows well.

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