Finmin for extension to PNB, 2 other PSB chiefs
The finance ministry has recommended extending the tenure of three managing directors and chief executive officers (MDS and CEOS) and 11 executive directors (EDS) of public sector banks, for up to two years or until the age of retirement, whichever is earlier, as it looks to ensure stability and continuity at state-owned lenders amid the pandemic.
The Department of Financial Services (DFS), according to people in the know, has written to the Department of Personnel and Training (DOPT) suggesting the move, before the Banks Board Bureau (BBB) identifies new candidates for the role of bank chiefs. The letter,
written earlier this month, recommended a tenure extension for S S Mallikarjuna Rao, MD and CEO of Punjab National Bank, until January 31, 2022, when he is due for superannuation.
Rao’s term as MD and CEO is set to end on September 18 this year.
Similarly, the DFS has suggested giving a two-year extension to Atul Kumar Goel, MD and CEO of UCO Bank. His term is ending on November 1. A S Rajeev, MD and CEO of Bank of Maharashtra, also has been recommended for an extension of two years beyond December 1. Moreover, EDS have been recommended for an extension for up to two years or the age of 60, whichever is earlier. Shanti Lal Jain and Ajay K Khurana, both Bank of Baroda EDS, have been recommended for a two-year extension. A Manimekhalai (Canara Bank) and P R Rajagopal (Bank of India) have also been named for another two-year term as EDS.
Sanjay Kumar and Vijay Dube (Punjab National Bank), Gopal Singh Gusain and Manas Ranjan Biswal (Union Bank of India), Vikramaditya Singh Khichi (Bank of Baroda), Shenoy Vishwanath Vittal (Indian Bank), and Alok Srivastava (Central Bank of India) have been recommended for an extension until their age of superannuation.