PSBs to get new chiefs soon, plan set into motion

The government is set to appoint a slew of public sector bank chiefs and in the fray are executive directors (ED) of various state-owned banks. A communication to this effect was sent by the Centre late on Tuesday evening.

A number of EDs have given their consents to the government for their promotions to the top posts of few PSBs RM Malla, who is currently serving as chairman and managing director (CMD) of SIDBI, will succeed IDBI Bank CMD Yogesh Agarwal, who has been appointed as the chairman of PFRDA from next month.

Similarly, Uco Bank CMD SK Goel is likely to head India Infrastructure Finance Company and Corporation Bank CMD JM Garg is likely to get berth in chief vigilance commission(CVC). Meanwhile, Union Bank executive director S Raman has given his consent to take charge as the CMD of Canara Bank. Normally, the CMD of top six PSBs are chosen from among the CMDs of comparatively smaller PSBs on the basis of lateral transfer.

Some of the other executive directors that have given their consent for chairman and managing director’s post include Ramnath Pradeep of Central Bank of India for Corporation Bank, M Narendra of Bank of India for Indian Overseas Bank, Arun Kaul of Central Bank of India for Uco Bank, AS Bhattacharya of Indian Bank for Andhra Bank, R Ramachandra of Syndicate Bank for Bank of Maharashtra, Nagesh Pydah of Punjab National Bank for Oriental Bank of Commerce and HSU Kamath of Canara Bank for Vijaya Bank.

However, the ministry of finance is to yet to find out a person who would be replacing GS Vedi, CMD of Punjab Sind Bank who will be retiring in June.

On a similar footing, quite a few general managers serving at various PSBs have also given their consent for becoming the executive directors of the public sector banks. The list of general manager include Archana Bhargav of PNB for Canara Bank, VR Iyyer of Union Bank for Central Bank of India and N Badrinarayan of Bank of Baroda for Uco Bank. Anil Bansal of Union Bank is the only candidate whose clearance from RBI for is still being awaited to promote him as executive director.