Bengaluru: Shri. PK Vijayakumar, an officer of the 1978 batch of Indian Revenue Service (IRS), who in his career has held an array of positions in the Income Tax Department in the states of Kerala, Tamil Nadu, West Bengal and Maharashtra, has been appointed as a Director on the Board of Dhanlaxmi Bank. The Bank has appointed him with effect from 17th August 2020.
Known for his integrity among IRS fraternity with an unsullied career spanning close to 40 years, Vijayakumar has worked as Commissioner of Income Tax in three metropolitan cities of India: Chennai, Kolkata and Mumbai.
Vijayakumar retired as the Director-General of Income Tax (Inv.), Kochi (Kerala), a post equivalent to Additional Secretary to Government of India, on 30th September 2011. During his stint as Commissioner of Income Tax, Mumbai, from 2008 to 2011, he was in charge of the highest tax-paying companies of India such as State Bank of India, Tata Group, L&T, HDFC Bank, ICICI Bank, Mahindra, Raymonds, etc. to name a few.
Post his retirement from the Income Tax Department in 2014, he was appointed as the Insurance Ombudsman of Kerala with jurisdiction over Lakshadweep as well, a post equivalent to the rank of Secretary to Government of India with quasi-judicial powers. Kerala witnessed a sea change in the redressal mechanism of policyholder grievances due to the efforts of P.K. Vijayakumar. When he assumed office in 2014, there were around 1,000 cases awaiting to be settled and in two years there were no pending files.
Impressed by his successful work, Insurance Regulatory and Development Authority of India (IRDA) entrusted Vijayakumar with the additional charge of Tamil Nadu and Ahmedabad. He received Certificate of Excellence from the Governing Body of Insurance Council in the All India Conference of Insurance Ombudsman held in New Delhi in September 2015.
Vijayakumar retired from the post of insurance ombudsman in September 2016. He was appointed as an Independent External Monitor (IEM) of Cochin Shipyard Limited in June 2017, Visakhapatnam Steel Plant Limited in July 2018, and FACT, Udyogamandal in August 2019, of the rank of a Director by the Central Vigilance Commission (CVC) to approve large purchases of the above companies. He was also IEM for the Kerala Bank.
Early in his career, from 1994 to 2004, Vijayakumar functioned as an observer of Election Commission of India during four Lok Sabha and three assembly elections across India. Mr Vijayakumar is also known in academic circles for his teaching and administrative work. He is a guest faculty of Calicut University for MBA students teaching subjects such as Corporate Tax, Business Ethics, Organisational Development, UK Taxation, Healthcare and Insurance. He is the chairman of Alert Academy, Thrissur, which imparts training to civil service aspirants and students preparing for other competitive examinations.
Known for his sincerity and dedication, Vijayakumar is also passionate about art and culture, he is the patron of Thrissur Kathakali Club in his hometown in Kerala.