Renowned banker M D Mallya no more

Team Udayavani, Nov 26, 2018, 10:56 AM IST

Mangaluru: M D Mallya (Mangalore Devdas Mallya) (66) who was retired chairman and managing director of both Bank of Baroda and Bank of Maharashtra, breathed his last at the residence of his son at Banashankari Bengaluru on Sunday November 25. He was suffering ill health since some time.

Mr Mallya is survived by wife, a son, and a daughter. He was from Mulky in the taluk and had been spending retired life at Bengaluru.

Mr Mallya did his engineering degree at the then KREC Surathkal and then completed the management diploma through Indian Institute of Science Bengaluru. He completed industrial finance certificate course of Indian Institute of Bankers and joined Corporation Bank in 1976. After serving that bank for 29 years, Mallya was appointed as the executive director of Oriental Bank of Commerce.

He is known for his unique business ideas and pioneering in introducing new technology into banking. One of his best known achievements is the merging Global Trust Bank with Oriental Bank of Commerce. As the MD of Bank of Maharashtra, he achieved all-round development of the bank, particularly in the sectors like growth of banking business, human resources development and other sectors. In his capacity as the chairman and managing director of Bank of Baroda from 2008-12, he spearheaded phenomenal growth of the bank.

Mr Mallya was a director of New India Assurance Company for three years and as deputy chairman of Indian Banks Association. He also functioned as director of State Bank of India between 2014 and 2017 and independent director of ICICI Bank from 2018 May 29 to October 4 2018.

He had headed a work force formed by Reserve Bank of India in 2009 on the subject of secularization of Trade Credit Receivables. M D Mallya had bagged the ‘Best Banker’ award of Business India magazine in the year 2011.