Small font size A Larger text size A Largest text size A

Vikram Sahu approved as Bank of America India CEO by central bank, memo shows

BY Reuters | ECONOMIC | 12/03/25 04:47 AM EST

MUMBAI, Dec 3 (Reuters) - India's central bank has approved the appointment of Vikram Sahu as chief executive officer of Bank of America N.A. in India, according to an internal memo reviewed by Reuters.

Sahu was appointed by the bank in March to lead India operations but a formal approval from the Reserve Bank of India was pending.

Sahu replaces Kaku Nakhate, who headed the bank's India operations for 15 years.

A spokesperson for Bank of America's (BAC) India operations declined to comment.

(Reporting by Ira Dugal; Editing by Saumyadeb Chakrabarty)

More Fixed Income News

PRECIOUS-Gold rises as dollar weakens ahead of US inflation test BY Reuters |TREASURY 03:06 AM EST
Nasdaq Rises 50 Points Ahead Of Next Week's Interest-Rate Decision: Greed Index Remains In 'Fear' Zone BY Benzinga |ECONOMIC 02:52 AM EST
GRAPHIC-Take Five: Worth the wait? BY Reuters |ECONOMIC 02:38 AM EST
BOJ expected to choose 'constructive ambiguity' on future rate hikes BY Reuters |ECONOMIC 02:30 AM EST

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article