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| RBI Governor Rajan |
A PANEL headed by
RBI Governor Raghuram Rajan has shortlisted 11 candidates for the
posts of CEOs and MDs of five large public sector banks, including
PNB, BoB and Canara Bank.
The Cabinet may
finalise names of five successful candidates in a month or so, after
requisite procedures are fulfilled, media reports said.
These shortlisted
names have been sent to the finance ministry and would be
subsequently forwarded to the Appointments Committee of the Cabinet
(ACC) after vigilance and other necessary clearances.
All the
shortlisted candidates are...
from the public sector banks even though
candidates from private sector banks were also called for interviews
held last week.
As many as 26
candidates, including executives from private sector banks, appeared
for the interview.
These names
include one executive director of PNB, one executive director of Bank
of Baroda and one CMD of a public sector bank.
For the first time
executives from private sector banks were part of the selection
process for the top jobs in public sector banks.
The department of
financial services had sought applications for the post of MD and CEO
in Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank
and IDBI Bank for a fixed term of three years.
But the department
did not find adequate number of candidates as per the eligibility
criteria, it relaxed the norms in April.
While the age
limit was increased from 55 to 57 years, the mandatory board-level
experience for the applicants was reduced to one year from three
years to invite more experienced talent for heading large public
sector banks.
Apart from the
banking sector, after the new government assumed power at the Centre
last year, the Coal Ministry had invited applications from the
private sector for the post of CMD in Coal India. But it received no
application from private sector executives.
In December last year, the
government had appointed MD and CEO in four
state-owned banks -- Indian Overseas Bank, Oriental Bank of Commerce,
United Bank of India and Vijaya Bank. Last month, MD and CEO of
Syndicate Bank was appointed.
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