Appointments to public sector banks top posts subject to decision on plea, says SC

The Supreme Court on Monday observed that all appointments to the posts of managing directors and chief executive officers in five public sector banks would be subjected to its decision in the public interest petition challenging the government policy to appoint persons from private banks. 

A retired banker has challenged the government advertisement calling for filling the posts from private banking professionals. The petition challenges this policy as one to privatise nationalised banks. 

Prashant Bhushan, who argued for the case, sought a stay on the appointments, but the chief justice said that it will be heard after replies from the government and the Reserve Bank of India. 

Attorney General Mukul Rohtagi submitted that the policy has been modified recently and more candidates have become eligible for the posts. Moreover, he questioned the locus standi of the petitioner, who is 71 years old. According to the changed policy, all high-ranking banking professionals will be able to apply for the posts. Rohtagi claimed.