Who was appointed as the new Managing Director and Chief Executive Officer of Corporation Bank by the Government of India?

Introduction / Context:
Banking awareness is a key part of many competitive exams, particularly in India. Questions frequently ask about recent appointments to the posts of Managing Director and Chief Executive Officer in public sector banks. Corporation Bank, a public sector bank that later merged into Union Bank of India, had a change in top leadership when Jai Kumar Garg was appointed as its MD and CEO. This question checks whether the candidate can recall that specific appointment.

Given Data / Assumptions:

• The question is about Corporation Bank.
• It asks for the name of the person appointed as Managing Director and Chief Executive Officer.
• The appointment was made by the Government of India.
• The options list several well known names, some from banking and some from other fields.

Concept / Approach:
For such questions, the approach is straightforward factual recall. Candidates must keep track of important appointments in the banking sector through newspapers, monthly current affairs booklets, and official press releases. Recognising the names and associating them with the correct institutions helps in eliminating distractors. Jai Kumar Garg is the name consistently associated with the role of MD and CEO of Corporation Bank during the relevant period.

Step-by-Step Solution:
Step 1: Identify that the institution mentioned is Corporation Bank, a public sector bank. Step 2: Recall current affairs information about who took over as MD and CEO of this bank. Step 3: Recognise that Jai Kumar Garg was appointed to this role by the Government of India. Step 4: Compare the remaining options and note that they are associated with other roles or domains. Step 5: Select Jai Kumar Garg as the correct answer.

Verification / Alternative check:
You can cross check using your memory of news headlines from the time of the appointment or typical banking awareness notes, which clearly state that Jai Kumar Garg was appointed MD and CEO of Corporation Bank. None of the other options is prominently linked with that particular post in standard exam oriented materials. This reinforces the correctness of the choice.

Why Other Options Are Wrong:

• Anil Kumar Chaudhary: Known for his role at Steel Authority of India Limited and not for leading Corporation Bank.
• Jaya Prada: A well known actress and politician, not a banking sector chief.
• V R Lalithambika: Associated with the Indian space programme, not with top management of Corporation Bank.
• Shikha Sharma: Former Managing Director and CEO of Axis Bank, not Corporation Bank.

Common Pitfalls:
Some candidates may guess based on the familiarity of names rather than their actual association with Corporation Bank. Others may confuse Shikha Sharma with the leadership of multiple banks due to her visibility in media. A lack of regular revision of banking appointments can also lead to picking an attractive but incorrect option, especially when many senior executives share similar sounding names.

Final Answer:
The new Managing Director and Chief Executive Officer of Corporation Bank was Jai Kumar Garg, so the correct option is Jai Kumar Garg.