Govt appoints 10 public sector bank chiefs

Govt appoints 10 public sector bank chiefs
  • 2

New Delhi, Sep 20: The government appointed 10 public sector bank chiefs, including five from State Bank of India, as it sought to fill up key posts, some of which were vacant for over eight months.
The list includes SBI deputy managing director Karnam Sekar as the new chief of Dena Bank, which is part of a three-way merger involving Bank of Baroda and Vjaya Bank, an official notification said.
In a break from tradition, the Centre also opted for a non-Sikh as the managing director and CEO of Delhi-headquartered Punjab & Sind Bank, as reported earlier. With IIM Bangalore professor Charan Singh appointed the chairman of the state-run lender, the government decided to appoint Allahabad Bank executive director S Harisankar as the Delhi-headquartered bank’s managing director and chief executive.
Besides, in a shift in strategy younger people have been appointed, with two of them having more than five years to retire. These two have been appointed for three years initially, with a possible two-year extension. Indian Bank executive director A S Rajeev, who moves to Bank of Maharashtra as its MD & CEO and Union Bank ED Atul Kumar Goel, who moves to UCO Bank MD & CEO, are two with long tenures.
By going with appointments of five SBI deputy MDs as the heads of nationalised banks, the government has signalled that it will look for the best available talent in its bid to restructure nationalised banks. As part of the exercise, Mrutyunjay Mahapatra moves to Syndicate Bank, Padmaja Chandru to Indian Bank, Pallav Mohapatra to Central Bank of India and J Packirisamy to Andhra Bank.