Govt starts selection of non-executive chairmen for public sector banks

Vacancies for the position of non-executive chairman have arisen after the government decided to bifurcate the post of Chairman and Managing Director at PSU banks last year.

There are eight vacancies for this slot at various public sector banks including Punjab National Bank, Bank of Baroda, Syndicate Bank and Canara Bank. The government is also looking for appointing chairmen at Bank of India and IDBI Bank in place of the incumbents.

In December, the government had appointed Managing Director and CEO in four state-owned banks -- Indian Overseas Bank, Oriental Bank of Commerce, United Bank of India and Vijaya Bank.

As per the new norms, the applicant would need to have at least a graduation degree and should be less than 67 years of age, with 20 years of work experience.

Eminent persons with special academic training or practical experience in the fields of agriculture, rural economy, banking, cooperation, economics, business management, among others would be considered for the post.

Retired senior government officials; academicians; directors of premier Management; Banking Institutes; professors and Chartered Accountants with 20 years experience would also be considered.

A high-level search committee would go through the applications and recommend names to the government for approval.

Four PSU Banks get new MD & CEO. Government split post of CMD Click here
New Selection process for CMDs of Public Sector Banks Click here