Govt appoints seven executive directors for public sector banks

The government has appointed seven executive directors at various public sector banks on Thursday. These appointments are made for three years. While making the appointments, the government said these officials can get another two-year extension if they are eligible but only after a performance review.

The government has appointed Nidhu Saxena (53), a general manager in UCO Bank, as executive director in Union Bank of India, from Febraury 1, 2022, in place of Gopal Singh Gusian, one of the EDs in Union Bank, who will be retiring on January 31, 2022.

“Provided that he shall be eligible for extension of the term of office, after a review of his performance, by two years, or until further orders, whichever is earlier,” a notification from the department of personnel and training said.

Rajneesh Karnatak (51), a chief general manager in Punjab National Bank, has been appointed as ED in Union Bank of India, in place of Dinesh Kumar Poonam Chand Garg, one of the EDs in Union Bank.

Kalyan Kumar (52), a chief general manager in Union Bank of India has been appointed at Punjab National Bank. Ashwani Kumar (52), currently a CGM at PNB, has been appointed at Indian Bank.

Roy Joydeep Dutta (49), a CGM at Bank of Baroda, has been elevated to the executive director’s post in the same bank.

Another CGM from BoB, Yadav Ramjass (57) has been appointed as ED in New Delhi-based Punjab and Sind Bank. Asheesh Pandey (50), a CGM in Union Bank, will be heading to Bank of Maharashtra as executive director.

Many of these executives, in their early 50s, who stand to serve a full five-year term, will be eligible for extension. The retirement age at PSU banks is 60 years.

There have been many instances, since the induction of the Narendra Modi government in 2014, where many bankers were denied extension even if they were eligible.