Rajneesh Karnatak takes over as Union Bank of India Executive Director

Next on the list of lenders offering lowest interest rate on education loans is, expectedly, another public sector giant. Union Bank’s interest rates start at 6.8 percent, with the EMI amounting to Rs 29,990.

State-run Union Bank of India on October 22 announced the appointment of Rajneesh Karnatak as Executive Director.

The former chief general manager of Punjab National Bank has over 27 years of experience in banking services.

Karnatak also served as a general manager in the erstwhile Oriental Bank of Commerce, where he headed large corporate credit branches and verticals such as credit monitoring, digital banking and mid-corporate credit, the bank said in a release.

After the amalgamation of Oriental Bank of Commerce into Punjab National Bank, Karnatak started heading the Credit Review and Monitoring Division and corporate credit division.

Karnatak also served as a nominee director on behalf of Punjab National Bank on the Board of PNB Housing Finance Ltd and ISARC (India SME Asset Reconstruction Company Limited), the release said.