Government banks get third executive director

The government has appointed a third executive director in large public sector banks (PSBs) such as Punjab National Bank, Bank of Baroda and Bank of India, and a second ED in United Bank of India. In addition, mid-sized banks like Allahabad Bank and Vijaya Bank, where the ED post was vacant, have had these filled.

Mumbai-based Bank of Baroda (BoB) has got a third ED and also the existing vacancy (following retirement of N S Srinath) filled with the appointments of P Srinivas and S K Jain. Srinivas was a general manager in Andhra Bank, while Jain comes from Dena Bank. Jain, who is not scheduled to retire till 2020, is the youngest ED in public sector banks at present.

Another Mumbai-based government lender, Bank of India (BoI), got a third ED with the appointment of B P Sharma, who comes from Punjab National Bank (PNB), where he was a general manager. Sharma will have a term till July 2016. A third ED was also appointed in PNB, with S R Bansal from Dena Bank taking charge.

The extra posts were decided on the recommendation of the Khandelwal committee on human resources of PSBs. To start with, six large nationalised banks, with more than Rs 3 lakh crore of business, are tol get the additional ED. Apart from PNB, BoB and BoI, Union Bank of India, Canara Bank and Central Bank of India will benefit.

The finance ministry has asked the banks to have a dedicated ED for human resources and information technology.

EDs have also been appointed in Bangalore-based Vijaya Bank and Kolkata-based Allahabad Bank, where the position was vacant. A Tiwari from Bank of Baroda has joined Allahabad Bank, while K R Shinoy, who was in Corporation Bank, took charge at Vijaya Bank.

Another Kolkata-based lender, United Bank of India, has seen the induction of Sanjay Arya as the second ED. Arya, who will have a term till November 2016, was a general manager in Bank of Maharashtra.