PIL challenges appointment process & cut-off age for PSU Bank CEO & MDs

The Public Interest Litigation (PIL) filed by former president of All India Bank Officers Confederation K D Kheda, challenges the appointment process of CEOs and MDs of Bank of India, Bank of Baroda, Canara Bank, Punjab National Bank and IDBI Bank and reducing the cut-off age from 58 to 55 years.

The cut-off age for the posts has been reduced from 58 to 55 years. It is alleged that eligibility criteria for the posts of CEO and MD of the five banks have been set “with a sole objective to make all existing executives directors of Public Sector Banks ineligible.”

“Executive Directors of PSB, who were the only persons eligible under old policy, will automatically become ineligible solely on account of cut-off age of 55 years with three years Board experience, which is purposely and malfidely reduced in the case of appointment of MD and CMD only for these five large PSB,” the petition said.

Supreme Court had sought responses from the government and Reserve Bank of India on the PIL.

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