Former Executive Director of UCO Bank, Ishraq Ali Khan, has been appointed as the Managing Director and CEO of Bombay Mercantile Cooperative Bank. However, he is currently holding temporary charge, while approval from the Reserve Bank of India (RBI) for his appointment is still awaited. The bank is hopeful that the regulatory approval will be received shortly.
Khan’s appointment follows the resignation of outgoing MD & CEO Imran Siddiqui, who stepped down due to health-related reasons.
With more than three decades of banking experience, Khan is regarded as a seasoned banker with expertise in operations, administration, and information technology initiatives during his tenure at UCO Bank.
Speaking to Indian Cooperative, Khan said his immediate priority would be to strengthen the bank through greater adoption of technology, an area where many cooperative banks continue to lag behind.
He emphasized that professional management, operational efficiency, and digital transformation would remain key focus areas during his tenure.
Khan also expressed confidence in improving the bank’s overall functioning and enhancing its technological capabilities in the coming years.
His appointment comes at a time when cooperative banks across the country are increasingly focusing on modernization and governance reforms to remain competitive in the evolving banking landscape.