Indian Banks' Association (IBA), formed on 26 September 1946 as a representative body of management of banking in India operating in India - an association of Indian banks and financial institutions based in Mumbai.With an initial membership representing 22 banks in India in 1946, IBA currently represents 237 banking companies operating in India. IBA was formed for development, coordination and strengthening of Indian banking, and assist the member banks in various ways including implementation of new systems and adoption of standards among the members.Indian Banks' Association is managed by a managing committee, and the current managing committee consists of one chairman, 3 deputy chairmen, 1 honorary secretary and 26 members. Current chief executive is V G Kannan. He succeeds M V Tanksale who demitted office as Chief Executive on August 9, 2016, after being at the helm for three years. Previous notable chairman include K R Kamnath, chairman and managing director of Punjab National Bank, M. D. Mallya of Bank of Baroda, V. P. Shetty, M. V. Nair, Rashid Jilani and O P Bhatt.