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| PMO seeks review of two bank CMD appointments |
| BS Reporter / Mumbai Aug 26, 2010, 00:27 IST |
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The department of personnel and training (DoPT) has expressed reservations on some appointments for top posts in public sector banks. As a result, the prime minister’s office has referred back the appointment files to the cabinet secretariat.
 According to sources, DoPT has raised objections regarding two banks, one a large government bank and the second a smaller bank.
A large government bank was supposed get an executive director of another large bank as chairman. According to the practicefor large government banks, an existing chairman of a smaller bank is moved laterally. The government’s decision to promote an executive director as chairman of a large bank has led DoPT to express its reservation.
In the other instance, DoPT has objected because a small government bank was to get a chairman who has less than two years of service left. According to government norms, an executive director is eligible for promotion if the candidate has two years of residual service and has spent one year as ED.
Top posts at four state-run banks, Punjab and Sind Bank, UCO Bank, Corporation Bank and Canara Bank’s, are vacant. Andhra Bank’s Chairman and Managing Director R S Reddy will also retire by the end of this month. Syndicate Bank Executive Director R Ramachandran is expected to replace Reddy.
In the remaining part of the current year, four more vacancies at the top will come, in addition to the seven posts that are already vacant. Among these seven, five chairmen have retired and two have been posted in government agencies. Of the seven posts vacated so far, three appointments have been made.
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