Government appoints nine EDs at public sector banks

These appointments have happened after a long delay

After a long delay, the government has appointed executive directors (EDs) at nine public sector banks (PSBs), including Allahabad Bank, Bank of Baroda (BoB) and Bank of India (BoI).

R P Marathe, a general manager with BoB, is the new executive director at BoI. BoB said K Venkata Rama Moorthy, its general manager (GM), had been elevated as ED. Kishore Piraji Kharat, another GM at BoB, moves as ED to Union Bank of India. And, Harideesh Kumar B, a GM with Vijaya Bank, took charge as ED at Canara Bank. N K Sahoo, a GM at Canara Bank, is a new ED at Allahabad Bank.

Late last December, a government-appointed selection panel had interviewed 35 candidates to fill vacancies of 15 EDs in various PSBs. Of those interviewed, names of 15 were shortlisted and 12 were allotted to banks. However, a formal notification was pending.

Earlier this year, the government split the post of chairman and managing director at state-run banks, making each into two charges, one of chairman and the other termed managing director and chief executive officer. It then appointed MD & CEOs for United Bank of India, Oriental Bank of Commerce, Vijaya Bank and Indian Overseas Bank.

Last month, it had also said the existing appointment methods for the top posts would be scrapped and candidates from the private sector would be eligible, too, to be interviewed.