Sambalpur: Sri Abhay Prasad Hota became the Chairman of Federal Bank
Sambalpur: While the number of Odians is increasing in various important posts in the country, another Odian has been designated with an important post. Abhay Prasad, a prominent figure in the country’s banking sector, has been appointed as the chairman of the Federal Bank. The RBI has approved his appointment as the interim chairman of the Federal Reserve Bank from 29 June 2023 to 14 January 2026. Mr. Hota has been serving as an Independent Director of the Federal Bank Board of Directors since 15 January 2018. He worked in RBI for 27 years from 1982 to 2009. During his tenure at RBI, he served as a nominated director on the board of Vijaya Bank and then Andhra Bank. He was the Managing Director (MD) and Chief Executive Officer (CEO) of the National Payments Corporation of India (NPCI) from 2009 to 2017. Federal Bank, headed by 67-year-old Mr. Hota, is a leading private bank in the country. It has 1372 branches and 1914 ATMs across the country. As on March 31, the bank’s total business (transactions) was Rs 3.87 lakh crore.
Abhay, son of Sanghat Devi Prasad Hota, a native of Karangamal village near Raja Kharia of Nuapada district, after his primary education from his village school, completed his secondary education from Angul and passed his matriculation. Was a +2 topper in Bargarh Panchayat College. He graduated with honors in English from Meher College, Gangadhar, Sambalpur. Later he passed his graduation in English from Sambalpur University (Jyotbihar). After higher education, Mr. Hota, who started his professional career with the Reserve Bank, holds an honorary degree from the Indian Institute of Banking and Finance (IIBF). He was a student of Odisha’s eminent educationist Sanghat Prafulla Pati, informed his elder brother and retired educationist Girihari Hota.
