T.M.Bhasin has been appointed as the new Chairman and Managing Director of Indian Bank. Bhasin took over charge of the state run bank following the retirement of M.S. Sundara Rajan.

Previously, Bhasin was the Executive Director of United Bank of India since November 7, 2007. His contribution to UBI has been commendable in the field of capital restructuring program of the bank. He has been instrumental in the success of the bank's IPO.

He has also been attributed with the achievement of 100% core banking solution by the bank. He has played a key role in corporate restructuring events like mergers and joint ventures.

An alumnus from Harvard, Bhasin has a degree of advanced management programme at JFK School of Government, Harvard. He is also an MBA (Finance) from University of Delhi.

His entry in the banking industry took place as a probationary officer (PO) in 1978 with the Oriental Bank of Commerce (OBC). Bhasin has served the bank for over three decades.

He also has a book under his name titled, "E-Commerce in Indian Banking".

The Chennai based has posted a 25.86% hike in net profit to Rs 441.38 crore for the quarter ended December 2009 from Rs 350.70 crore during the same period last year.