May 22, 2012Mr. Aloke Kumar Banerjee has taken over as Director (Finance) of ONGC subsequent to his Presidential appointment to the coveted post.

With this, Mr. A K Banerjee formally takes over the operational responsibility of the esteemed role from CMD Mr. Sudhir Vasudeva who in the absence of a full-time Director has been assuming charge and handling responsibilities contingent to the designation till date.

With close to three decades of rich and diversified experience with ONGC, Mr. A K Banerjee's refined perspective on not just the financial priorities of this organization at this crucial juncture but also on the larger canvas of ONGC's operations and business objectives should come as a matter of ample comfort to ONGCians. Sound and precise financial management of its capital and its vast array of resources will, in the days to come, play an extremely important part as ONGC bids to step up its activities in response to the changing business climate as well its own growth goals. To that end, Mr. Banerjee's sharp awareness of financial implications coupled with his comprehensive knowledge of financial policies ensure that the critical function of "Finance" is under the safe custodianship of a safe and sure mind.

A finance professional par excellence, he has varied experience in Financial Management and Strategic Planning in upstream Oil and Gas Industry with specialization in Corporate Accounts, Corporate Budget, Cost Management, Risk Analysis & Financial Planning, Procurement of Contracts, Performance Benchmarking & Evaluation, Audit, Corporate Governance, Insurance, etc.

One of the finest financial brains in contemporary oil and gas business in India, Mr. Banerjee is an example personified for multi-tasking and multi-prioritizing. His stints across Dehradun, Kolkata, Tripura, Mumbai and Delhi have well sensitized Mr. Banerjee to the oft-disparate but equally important aspirations of corporate offices and work-centers. This is an added boon in an organization like ONGC, where despite its many units and diverse workforce, the organization needs to move as a cohesive whole.

Introduction of Financial Benchmarking concept, documentation of Budget Manual, Introduction and Implementation of Zero Based Budgeting, Formulation of Accounting Standards has been some of his major initiatives. During an illustrious and highly productive career with ONGC, he has clearly demonstrated the passion to achieve the pinnacle of perfection.

Mr. Banerjee did his Masters in Commerce from Calcutta University and subsequently did his ACS from The Institute of Company Secretaries of India. He further enhanced his rich knowledge by obtaining FCA from the Chartered Accountants of India, ACWA from The Institute of Cost & Works Accountant of India and Diploma in Management from Indira Gandhi Open University.

He now becomes the seventeenth executive to head the Finance function of ONGC since its inception. Until ONGC's listing in 1994, the function was helmed by Member (Finance), 12 in all, after which the Director-Finance office was institutionalized and Mr. Banerjee becomes the fifth Director to take seat in the dignified capacity.

Issued By
Oil and Natural Gas Corporation Ltd.
Corporate Communications, New Delhi,
Phone: +91-11-23320032
Tele-Fax: 011-23357860
Mail: ongcdelhicc@ongc.co.in