Shubhalakshmi Panse
Shubhalakshmi Panse | |
|---|---|
| Chairman and Managing Director, Allahabad Bank | |
| In office October 2012 – January 2014 | |
| Personal details | |
| Citizenship | India |
| Education | Drexel University (MBA); Savitribai Phule Pune University (MSc, Diploma in Business Management, Master's in Management and Finance) |
| Occupation | Corporate executive, former banker |
| Committees | Reserve Bank of India's P. J. Nayak Committee and External Advisory Committee |
Shubhalakshmi Panse, also known as Subhalakshmi Aamod Panse, is an Indian corporate executive and former commercial banker. She served as the Chairman and Managing Director of Allahabad Bank from October 2012 to January 2014, becoming the first woman to lead one of India's oldest banking institutions. She also served as the Executive Director of Vijaya Bank from 2009 to 2012.
Panse began her banking career as a probationary officer at Bank of Maharashtra in 1976 and worked there for three decades, eventually becoming a general manager. Following her tenure at commercial banks, she served as an independent director of Federal Bank, PNB Housing Finance Limited, and Can Fin Homes.
Panse also served on national regulatory advisory committees of the Reserve Bank of India, including the P. J. Nayak Committee in 2014, which examined bank board governance and autonomy, and the External Advisory Committee in 2015, which evaluated applications for establishing payment banks.
Education
Panse holds a M.Sc degree (gold medalist) from Savitribai Phule Pune University. While she was pursuing a doctorate in Embryology in Pune University, she gave a banking exam and cleared it. In 1993, she completed her masters in Management and finance from University of Pune. She also holds a diploma in Business Management from the same university.[1] Later in 1998, while she was on a sabbatical, she completed her MBA with specialization in Bank Management from Drexel University, USA. [2] She is also a Certified Associate of the Indian Institute of Bankers (CAIIB).[3] [4]
Career
Panse joined the Bank of Maharashtra as a Probationary Officer in 1976 and grew to the rank of a General Manager in her three decade journey.[3] She was also became the bank's circle head for south covering Karnataka, Andra Pradesh, Tamil Nadu, Kerela and Pondicherry.[5]
Vijaya bank
She became the Executive Director at Vijaya Bank in November 2009 and handled various segments like credit, recovery and fund management.[4] During her tenure, it is reported that deposits grew by 13.56% in FY2009-2010 and by 16.81% in FY2012-2013.[2] Panse also took the initiative to interact with students from schools and colleges and open accounts for them, to build a future loyal customer base. In addition she provided them facility to start deposit in multiple of Rs10 per month for 10 years, to provide them student loans in future.[6] During her tenure, Vijaya Bank also started the e-deposit facility for its customers, to bring in new customers thus increasing the CASA ratio in addition to increasing the bank's deposits.[7]
Allahabad bank
On 1st October 2012, she joined state-owned Kolkata-based Allahabad Bank as the Chairperson and Managing Director (CMD)[8][4] and became the first woman to head one of India's oldest banking institution.[2] It was also the first time two woman were simultaneously leading two public-sector banks, the other one being Nupur Mitra of Dena Bank.[9] During FY2012-2013, the bank's business grew by 13.92% YoY, deposits grew by 12%YoY. The bank also focused on technology to lower transaction costs and opened 200 new branches and 131 ATMs to support future growth.[10] Panse retired from Allahabad Bank in January 2014.[11]
Independent director and committee member
Since then Panse has served as an Independent Director on multiple public and private sector boards. She joined Federal Bank as an Independent Director in June 2014, while serving as the Chairperson of the quality review board at Indian Institute of Actuaries.[12] Panse was appointed as Independent Director of PNB Housing Finance Limited in in July 2017 and resigned from her post in January 2021, to continue her role as an Independent Director at a competitor Can Fin Homes.[11] She served at Can Fin Homes from June 15, 2020 to July 29, 2026. [3]
Panse also served on the Reserve Bank of India's (RBI) P.J. Nayak Committee (2014) which helped reviewed and provided recommendations to strengthen the regulatory compliance requirements, guidelines for bank ownership, work and representation in bank's boards.[13] She was also appointed as a member of RBI's External Advisory Committee (2015) to evaluate the applications for setting up of Payment Banks.[14] [3]She also part of high-level government panels formed to elect top level executives like Chairperson, Managing Directors, Executive Directors for public sector banks.[3]
Award and recognition
- Best Banker - Financial Inclusion - Large by the Sunday Standard Best Banker's Awards - 2013[15]
- Suryadatta National Award - for excellence in the field of social service[16]
Personal Life
Panse credits her parents for her achievements, as they raised her as an independent individual, encouraging her with the words "You can do it." This encouraged her to complete her Master's in finance and business management (1993) while working during the day and studying in the evening. Panse says she has always been 200 percent committed, thus she was able to complete her 3-year MBA program at Drexel University in 12 months.[2]
References
- ↑ "Subhalakshmi Panse joins Federal Bank board". www.thehindubusinessline.com. 2014-06-18. Retrieved 2026-09-16.
- ↑ 2.0 2.1 2.2 2.3 "Flying High Shubhalakshmi Panse - BusinessToday". Business Today. 2013-08-29. Retrieved 2026-09-14.
- ↑ 3.0 3.1 3.2 3.3 3.4 "Can Fin Homes' Shubhalakshmi Panse Retired As An Independent Director – boardstewardship.com". Retrieved 2026-09-14.
- ↑ 4.0 4.1 4.2 Krishna Pophale/ Bs Reporter. "Shubhalakshmi Panse takes over as Allahabad Bank CMD". Archived from the original on 2018-05-13. Retrieved 2026-09-14.
- ↑ "Arundhati Bhattacharya to Archana Bhargava: A look at women in PSU banks". The Economic Times. Retrieved 2026-09-23.
- ↑ Mohapatra, Debasis. "PSU banks gun for biz from GEN-Y". Archived from the original on 2018-05-28. Retrieved 2026-09-23.
- ↑ "Vijaya Bank rolls out new initiatives to improve CASA ration".
- ↑ "Shubhalakshmi Panse takes over as CMD of Allahabad Bank". The Economic Times. 2012-10-03. ISSN 0013-0389. Retrieved 2026-09-16.
- ↑ "Breaking the glass ceiling: Women reach the top at state-owned banks". The Economic Times. 2012-11-07. ISSN 0013-0389. Retrieved 2026-09-16.
- ↑ "Allahabad Bank Annual Report 2012-2013" (PDF). Unknown parameter
|url-status=ignored (help) - ↑ 11.0 11.1 "Shubhalakshmi Panse resigns as PNB Housing Finance independent director". The Economic Times. 2021-01-12. ISSN 0013-0389. Retrieved 2026-09-16.
- ↑ "Shubhalakshmi Panse joins Federal Bank as independent director". The Economic Times. 2014-06-18. ISSN 0013-0389. Retrieved 2026-09-16.
- ↑ "Reports| Official Website of Reserve Bank of India". rbi.org.in. Retrieved 2026-09-16.
- ↑ "Press Releases | Official Website of Reserve Bank of India". rbi.org.in. Retrieved 2026-09-16.
- ↑ Standard, The Sunday (2013-09-09). "The Sunday Standard Best Bankers' Awards 2013 winners list". The New Indian Express. Retrieved 2026-09-22.
- ↑ Suryadutta Social and Women Empowerment Initiatives (PDF). Search this book on
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