The Reserve Bank of India (RBI) has approved Pranav Chawda’s appointment as Chief Executive Officer (CEO) of JP Morgan Chase & Co’s domestic banking unit, JP Morgan India, for a period of three years. Chawda, currently leading the commercial banking division, will also take charge of corporate banking, expanding his role within the organization.

JP Morgan India confirmed on Wednesday that Chawda’s elevation to CEO follows RBI’s approval. Chawda, who joined JP Morgan in 2019, has been spearheading the commercial banking segment. His new responsibilities will now include overseeing corporate banking, in line with the entity’s efforts to enhance client experience through the integration of its commercial and corporate banking operations in India, as per a firm-wide initiative introduced earlier this year.

Kaustubh Kulkarni, JP Morgan’s senior country officer and vice-chairman for Asia Pacific, emphasized Chawda’s crucial role, stating, “As CEO, Pranav’s experience and deep understanding of the local market will be pivotal in advancing our corporate banking business in India.” Kulkarni also highlighted the firm’s focus on capitalising on the opportunities presented by India’s dynamic market.

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Chawda initially joined JP Morgan as head of client banking and specialized industries, catering to midsized, India-headquartered companies.

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