Govt implements policy of splitting posts of chairman and MD and keeps SBI out of purview
Shishir Tripathi | December 31, 2014
The government has made appointments for the top posts at four public sector banks (PSBs)and implemented its new policy of bifurcation of the post of Chairman and MD and CEO.
R Koteeswaran, executive director, Bank of India has been appointed as the MD and CEO of the Indian Overseas Bank . Animesh Chauhan, executive director, Bank of India has been appointed as the MD and CEO of the Oriental Bank of Commerce, Kishore Kumar Sansi, executive director, Punjab and Sind Bank has been appointed as the MD and CEO of the Vijaya Bank and P. Srinivas, executive director, Bank of Baroda has been appointed the MD and CEO of the United Bank of India
The appointment of the MD and CEOs is for a period of three years or till the date of superannuation.
According to ministry of finance, “in the new appointments of PSBs other than SBI, the chairman will be a part time board member who would preside over the board meetings and will not be an executive chairman”. The procedure for selection of part time Chairman would be announced shortly.
According the ministry the appointment for the chief of Syndicate Bank is still under consideration of government and it would be decided very shortly.
For three 'A’ category entities - Bank of Baroda, Punjab National Bank and Canara Bank, the government has decided to go for a fresh selection procedure with a view to widen the search of candidates. The procedure for this would be announced shortly.
Governance Now has earlier reported that delay in appointment of the heads of the banks was probably because government is contemplating to bifurcate the post of chairman and managing director in PSBs and adopt new selection procedure.
The splitting of the CMD post has been recommended by various committees and some of the past RBI governors.
In the month of October following the report of the committee constituted to examine the selection process adopted for the selections to the posts of CMDs/EDs of Public Sector Banks (PSBs) for the year 2014-15 NDA government canceled the then existing selection process of CMDs/EDs of Public PSBs.
Also, according to finance ministry henceforward, in the new appointments of PSBs other than SBI, the Chairman will be a part time Board Member who would preside over the Board Meetings and will not be an Executive Chairman.
With Vijaya bank CMD retiring on December 31 total eight PSBs would have been without CMDs. The vacant posts of CMDs were in Punjab National Bank, Bank of Baroda, Canara Bank, Indian Overseas Bank, Oriental Bank of Commerce, United Bank of India and Syndicate Bank.
Out of which Indian Overseas Bank , Oriental Bank of Commerce , Vijaya Bank and United Bank of India has got their new heads. Appointment to Syndicate bank is under consideration.
Maya Kodnani, a BJP leader who was the MLA from Naroda when this locality on the outskirts of Ahmedabad witnessed one of the most gruesome episodes during the Gujarat riots of 2002, was acquitted by the Gujarat High Court on Friday. Her acquittal in the Naroda Patiya massacre case is only a sequel to
The number of civic complaints with BMC has increased from 61,910 in 2015 to 92,329 in 2017, which is 49% in two years. A report titled ‘Civic Issues Registered by Citizens and Deliberations done by Municipal Councillors in Mumbai’ released by Praja Foundation has found some interesting facts a
Atishi Marlena is among the nine AAP functionaries who were dismissed by the union home ministry asserting that their posts were created without the approval of the centre. Marlena, served as education advisor of the Aam Aadmi Party (AAP)-led government in Delhi. While she was intrumental in improving the
The Fortune magazine has named three Indians – lawyer Indira Jaising, industrialist Mukesh Ambani and architect Balkrishna V Doshi – among the world’s greatest fifty leaders.
Remember Kardashev scale? For the uninitiated, it’s a method of measuring a civilization’s level of technological advancement, based on the amount of energy it is able to use for communication. We will get to its unconventional relevance to the big urban questions at the end, but just keep it a
Out of 1580 MPs and MLAs with criminal cases, 48 (three MPs and 45 MLAs) have declared cases related to crime against women. The Association for Democratic Reforms (ADR) and