Govt clears names of 20 public sector bank heads
The government today approved 20 senior-level appointments in public sector banks.
While the appointments for the post of chairman and managing director (CMD) were announced for Canara Bank, Corporation Bank, Andhra Bank and UCO Bank with immediate effect, in the case of four others – Bank of Maharashtra, Indian Overseas Bank, Oriental Bank of Commerce and Vijaya Bank – the CMDs will take over from the incumbents following their retirements over the next four months.
Out of the 12 executive directors announced today, five will fill vacancies with immediate effect, while the remaining will be promoted as and when posts are vacant.
S Raman, ED at Union Bank of India will move to Canara Bank as CMD, while Ramnath Pradeep will move as CMD Corporation Bank from Central Bank of India where he is the executive director.
Arun Kaul, Pradeep's colleague at the Mumbai-headquartered bank, will shift to Kolkata as UCO Bank chairman and managing director. R Ramachandran, who is at present executive director at Syndicate Bank, will take over the reins at Andhra Bank.
The others who are due to take over as chiefs include A S Bhattacharya, who will move to Bank of Maharashtra as CMD, M Narendra (to Indian Overseas Bank), Nagesh Pydah (Oriental Bank of Commerce) and H S U Kamath (Vijaya Bank).
The government cleared the appointments six months after the finance ministry prepared the list of candidates.
The list, however, does not include the Punjab & Sind Bank chairman and managing director, who has been selected through a separate selection process because the candidate was expected to be a Sikh.
This, despite the fact that Finance Minister Pranab Mukherjee had asked his officials to ensure that jobs in state-owned banks and financial institutions be filled immediately after an incumbent moved to another assignment or superannuated.
SEPT 1: Govt set to appoint eight bank chiefs, 12 executive directors
Feb 24: Govt finalises nine bank chiefs