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Sunday, June 16, 2013

19 nationalised banks to have 442 general managers

Bank of Baroda can have maximum number of 43 General Managers (GMs) among the nationalised banks, says a Finance Ministry circular.

Seeking to improve manpower management in the public sector banks, the circular said that the 19 nationalised banks should have a total number of 442 GMs to oversee banking operations.

The list of banks does not include country's largest lender State Bank of India (SBI).

As per the circular, Punjab National Bank can have 41 GMs, followed by Canara Bank and Bank of India (both 38 GMs) and Union Bank of India (29 GMs).

The fresh guidelines, based on business mix of banks, are aimed at streamlining the changed business scenario with public sector banks investing considerable amounts in technological advancement and also as the core banking solution is now in place.

Earlier, the Ministry had said that over the years some mismatch has developed in the number of posts at senior positions and at the immediate feeder channels, which is creating difficulties in proper manpower management.

As per the new guidelines, effective till March 2015, banks with business up to Rs 1.5 lakh crore should have 12 GMs.

Beyond Rs 1.5 lakh crore and less than Rs 4 lakh crore, there should be one additional GM for every Rs 18,000 crore.

Beyond Rs 4 lakh crore crore, there should be one additional GM for every Rs 24,000 crore, the circular added.

Source: thehindubusinessline


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