Iamaulik7 at 17:34, 3 October 2025

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{{Short description|Indian banker}}
{{Resume-like|date=June 2024}}
{{Use Indian English|date=July 2015}}

{{Use dmy dates|date=April 2020}}
'''Muthusamy Balachandran''' (born 1 May 1947) is an Indian banker who served as the [[Chairperson|chairman]] and [[Chief executive officer|managing director]] (CMD) of [[Bank of India]] from June 2005 to April 2007. Before his appointment as the CMD of [[Bank of India]], he was the executive director of the same bank. He also served as chairman of board of [[National Payments Corporation of India|National Payment Corporation of India Limited]] before steeping down in 2017.<ref>{{Cite web |title=M. Balachandran: Trusted by Customers |url=http://www.india-inc.in/M.%20Balachandran%20.html|archive-url=https://web.archive.org/web/20120803092249/http://www.india-inc.in/M.%20Balachandran%20.html |archive-date=3 August 2012 }}</ref>

== Career ==
He obtained his [[Master of Science|M.Sc.]] in Agriculture, Agriculture Operations and Related Sciences from [[University of Madras]] in 1969. His role model was [[M. S. Swaminathan|M.S. Swaminathan]]. He wanted to be a researcher and was almost ready to take up research in plant breeding and genetics but then he gave an interview to Bank of Baroda. He also had a stint of teaching in Agricultural University (TN) before taking to banking as career in 1970.<ref>{{Cite web |title=National Payments Corporation of India |url=http://www.npci.org.in/mb.html|archive-url=https://web.archive.org/web/20091123221510/http://www.npci.org.in/mb.html |archive-date=23 November 2009 }}</ref>

He commenced his banking career in June 1970 as a Specialist Direct Recruit Officer in [[Bank of Baroda]] and worked in different capacities, including as the Senior Manager (Agriculture), Chief Manager (Agriculture), Regional Manager, Deputy General Manager (Priority sector). He stepped in the general banking sector when he was promoted to the position of [[General manager|General Manager]] and Zonal Manager of [[Bank of Baroda]], [[Chennai|Chennai Zone]] in 1996. Thereafter, he was moved to [[New York (state)|New York]] as the [[chief executive officer]] of Bank of Baroda of American Branch. He stepped down in 2003.<ref>{{Cite web |last=Sharma |first=Sanjukta |date=2007-08-11 |title=Muthusamy Balachandran |url=https://www.livemint.com/Leisure/0BTZUIOJHKHuu5jgvqa8LP/Muthusamy-Balachandran.html |access-date=2023-08-29 |website=mint |language=en |archive-date=29 August 2023 |archive-url=https://web.archive.org/web/20230829140930/https://www.livemint.com/Leisure/0BTZUIOJHKHuu5jgvqa8LP/Muthusamy-Balachandran.html |url-status=live }}</ref>

In 2004, he was appointed as the executive director of Bank of India by the Government of India. On 9 June 2005, he started serving as the chairman and managing director of Bank of India. He was also named as nominee of Bank of India in [[Indo-Zambia Bank Limited|Indo Zambia Bank]]. In 2005, he was announced as a director of NABARD Consultancy Services (NABCONS) and also of AFC India, both of them are [[subsidiary|subsidiaries]] of [[National Bank for Agriculture and Rural Development|NABARD]]. He was also chairman BOI Shareholding Ltd which is a joint venture between Bank of India (51%) and [[Bombay Stock Exchange|BSE]] (49%). He stepped from all his position by April 2007.<ref>{{Cite web |title=Bank promises more loans for SHGs |url=http://www.hindu.com/2006/03/13/stories/2006031302660300.htm|archive-url=https://web.archive.org/web/20060906234652/http://www.hindu.com/2006/03/13/stories/2006031302660300.htm |archive-date=6 September 2006 }}</ref><ref>{{Cite web |title=FM wants big banks to spearhead mergers |url=http://www.telegraphindia.com/1050911/asp/business/story_5223843.asp|archive-url=https://web.archive.org/web/20060912185737/http://www.telegraphindia.com/1050911/asp/business/story_5223843.asp |archive-date=12 September 2006 }}</ref><ref>{{Cite news |title=REPCO Bank's equity base to go up |website=[[The Hindu]] |date=21 November 2009 |url=https://www.thehindu.com/news/cities/chennai/REPCO-Banks-equity-base-to-go-up/article16893394.ece|archive-url=https://web.archive.org/web/20230829130533/https://www.thehindu.com/news/cities/chennai/REPCO-Banks-equity-base-to-go-up/article16893394.ece |archive-date=29 August 2023 }}</ref>

In 2007, he was named director of board of [[Small Industries Development Bank of India]] as well as of [[Institute of Banking Personnel Selection]].<ref>{{Cite web |date=2012-08-17 |title=Business Line : Industry & Economy / Banking : Clerical recruitment criteria relaxed for now |url=http://www.thehindubusinessline.com/industry-and-economy/banking/article3415652.ece |access-date=2023-08-29 |archive-url=https://web.archive.org/web/20120817032057/http://www.thehindubusinessline.com/industry-and-economy/banking/article3415652.ece |archive-date=17 August 2012 }}</ref><ref>{{Cite web |date=2012-05-11 |title=Business Line : Industry & Economy / Banking : In the next 5 years, banks will have to recruit almost 7.5 lakh people |url=http://www.thehindubusinessline.com/industry-and-economy/banking/article1983703.ece |access-date=2023-08-29 |archive-url=https://web.archive.org/web/20120511073151/http://www.thehindubusinessline.com/industry-and-economy/banking/article1983703.ece |archive-date=11 May 2012 }}</ref>

In 2008, he was named as non-executive chairman of Star Union Dai Ichi Life Insurance Co., which is a joint venture between Bank of India, [[Union Bank of India]] and [[Dai-ichi Life|Dai-ichi Life Insurance]].<ref>{{Cite news |date=2010-12-29 |title=Star Union Dai-ichi Life partners UBI |language=en-IN |work=The Hindu |url=https://www.thehindu.com/business/companies/Star-Union-Dai-ichi-Life-partners-UBI/article15612954.ece |access-date=2023-08-29 |issn=0971-751X |archive-date=29 August 2023 |archive-url=https://web.archive.org/web/20230829140931/https://www.thehindu.com/business/companies/Star-Union-Dai-ichi-Life-partners-UBI/article15612954.ece |url-status=live }}</ref>

In May 2010, he was named as a [[trustee]] of DHAN Foundation.<ref>{{Cite web |title=Shri Balachandran M., Chairman |url=http://www.npci.org.in/mb.html|archive-url=https://web.archive.org/web/20170919093612/http://www.npci.org.in/mb.html |archive-date=19 September 2017 }}</ref>

In 2013, he was announced as a Director of Board of PNB MetLife Insurance Company, a joint venture between [[Punjab National Bank]] and [[MetLife|MetLife Insurance]], and later in same year was also named as Chairman of board of [[National Payments Corporation of India|National Payment Corporation of India]].<ref>{{Cite web |title=Retail payment made easy through mobile service |url=http://www.thehindu.com:80/business/Economy/article905970.ece?homepage=true| archive-url=https://web.archive.org/web/20101127190201/http://www.thehindu.com:80/business/Economy/article905970.ece?homepage=true | archive-date=27 November 2010 }}</ref>

Since 2016, he is serving as an Independent Director of Tamil Nadu Infrastructure Funds Management Corporation (TNIFMC).<ref>{{Cite web |title=Balachandran Muthusamy |url=https://www.linkedin.com/in/balachandran-muthusamy-43567822/?originalSubdomain=in}}</ref>

Since July 2017, he is Chairman of Sasvitha Home Finance Ltd.<ref>{{Cite web |title='Affordable housing doesn't mean only cutting costs in construction' |url=https://www.newindianexpress.com/cities/chennai/2018/oct/18/affordable-housing-doesnt-mean-only-cutting-costs-in-construction-1886819.html |access-date=2023-08-29 |website=The New Indian Express |date=18 October 2018 |archive-date=29 August 2023 |archive-url=https://web.archive.org/web/20230829140930/https://www.newindianexpress.com/cities/chennai/2018/oct/18/affordable-housing-doesnt-mean-only-cutting-costs-in-construction-1886819.html |url-status=live }}</ref>

==References==
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{{DEFAULTSORT:Balachandran, M.}}
[[Category:1947 births]]
[[Category:Living people]]
[[Category:Indian bankers]]
[[Category:Dai-ichi Life]]

M. Balachandran - Revision history

Iamaulik7 at 17:34, 3 October 2025