Monday, May 25, 2015

Psychometric tests for candidates seeking top posts in PSU banks

CANDIDATES aspiring to join the top job in public sector banks (PSBs) will now have to undergo two psychometric tests. Reason. This aims to ascertain if they are really fit for the jobs in PSU banks that are reeling under bad loans.
The tests are part of a rigorous three-stage selection process which includes background check and personal interviews, reported a leading financial daily.
The Reserve Bank of India has engaged global management consulting firm Hay Group to shortlist managing director and CEOs for five PSBs including...
Punjab National Bank and Bank of Baroda.
There are about 50 candidates in the fray.
"The psychometric tests are to analyse the leadership qualities, situational judgment capability and overall personality traits," the newspaper quoted top executives as telling.
The psychometric test lasts around four hours and includes questions such as the biggest setback in the candidate's life and how he or she dealt with it.
Earlier this year, the government had a the government had approved new norms for selection of MD & CEO for five PSBs, paving the way for appointment of private sector candidates on flexible salary packages. Bank of India, Canara Bank and IDBI Bank are the other lenders in the list.
In April, the government relaxed eligibility criteria with regard to age and experience of applicants. While the age limit has been increased to 57 years, from 55 years earlier, the mandatory board-level experience for experience for the applicants has been reduced to one year, from three years.
The three-stage appointment process will start with screening and shortlisting of candidates based on the experience and eligibility conditions. "Candidates duly recommended by the screening agency will be called for the interview," the ministry had said in its notification.Candidates will be eligible to apply for the vacancy in one or all five banks, it noted.
In 2014, a committee was set up to examine the selection process to the posts of CMDs and executive directors of PSBs for 2014-15. This followed the arrest of the then Syndicate Bank chairman and managing director SK Jain by the CBI for allegedly accepting bribes of Rs 50 lakh to enhance the credit limit of some companies.
The government then cancelled the appointments of eight CMDs and 14 executive directors of state-run banks made by the previous UPA government. UPA government. This was followed by management reforms of PSBs and it was decided to split the post of chairman and managing director-cum-CEO.
The government then appointed MD & CEOs of United Bank, Oriental Bank of Commerce, Vijaya Bank and Indian Overseas Bank.

1 comment:

  1. These tests may be extended to all PSUs. The NIACL is perhaps spending more money on lawyers and courts, while trying to deny a small amount of legitimate dues to its ex-employee.