In­dian govt be­gins search for pub­lic sec­tor bank chiefs

The Pak Banker - - Front Page -

NEW DELHI: The In­dian govern­ment has be­gun the process for se­lect­ing chiefs of at least eight pub­lic sec­tor banks, in­clud­ing the coun­try's biggest lender SBI, where top po­si­tion would fall va­cant in the next fis­cal.

Kick­ing off a process that might take at least 4-5 months, the Fi­nance Min­istry has com­menced col­lect­ing per­sonal back­ground records and pro­files of all the ex­ec­u­tive di­rec­tors cur­rently work­ing with var­i­ous PSBs (pub­lic sec­tor banks), sources said.

The CMDs (Chair­man and Man­ag­ing Di­rec­tors) would be mostly se­lected from a pool that have been cre­ated of all the ex­ec­u­tive di­rec­tors at PSBs, they said, adding that in some cases chief of a par­tic­u­lar bank might be trans­ferred to an­other bank. The pool was cre­ated about a year ago to ex­pe­dite the process of se­lect­ing bank chiefs well in time be­fore the re­tire­ment of the in­cum­bent CMDs, sources said. At least eight PSBs will see their cur­rent chiefs re­tir­ing dur­ing the next year. -PB News

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