Four PSU Banks get new MD & CEO. Government split post of CMD in Public Sector Banks

The Finance Ministry has appointed managing directors (MDs) and chief executive officers (CEOs) of four banks and said the procedure for selection of a non-executive chairman would be announced shortly. The four banks for which new MD & CEOs were announced on 31st Dec 2014 were Oriental Bank of Commerce, Indian Overseas Bank, United Bank of India and Vijaya Bank

Government of India has decided to now separate the post of chairman and MD & CEO. State Bank of India, the country's largest lender, will however continue to have its own system

Earlier this year, the government had cancelled the appointments of eight CMDs and 14 executive directors of state-run banks made by the UPA government. The top posts at four banks — Bank of Baroda, Canara Bank, Punjab National Bank and Syndicate Bank — are still vacant. This could throw the field open to candidates from the private sector also .

1. Bank of India's executive director R Koteeswaran has been appointed as MD and CEO of Indian Overseas Bank.

2. Animesh Chauhan, executive director with Central Bank of India will head Oriental Bank of Commerce.

3. Kishore Kumar Sansi, who is currently executive director of Punjab and Sind Bank, will be the new MD and CEO of Vijaya Bank.

4. P Srinivas moves from Bank of Baroda to United Bank of India as MD and CEO.

Appointments will be for three years or till superannuation

Read the Related Story on Selection process for Bank CMDs