Govt identifies dozen bank EDs

Twelve candidates have been identified for the job of executive directors in state-run banks.

The list of candidates, prepared by the Department of Financial Services, includes two general managers each from Punjab National Bank (PNB), Bank of Baroda (BoB) and Union Bank of India. In addition, one general manager each from Canara Bank, Oriental Bank of Commerce, Allahabad Bank, Bank of Maharashtra, UCO Bank and Andhra Bank have been shortlisted.

The shortlisting follows an interview of 34 general managers by a selection panel headed by R Gopalan, secretary, financial services.

According to sources, RK Dubey, a general manager at PNB, is likely join Central Bank of India as ED, while his colleague at the Delhi-headquartered bank, Archana Bhargava, may shift to Canara Bank.

N R Badrinarayanan and SS Mundra, general managers at Bank of Baroda, are expected to join UCO Bank and Union Bank of India, respectively.

AK Bansal and VK Iyer, general managers in Union Bank of India, are expected to join Indian Overseas Bank and Central Bank of India, respectively. While N Sheshadri of Canara Bank may head for Bank of India, Rajesh Rishi of Oriental Bank of Commerce may join Indian Bank.

Ashwani Kumar of Allahabad Bank is likely to join Corporation Bank, while Rakesh Sethi of Andhra Bank may head for PNB. Ravi Chatterjee of UCO Bank is likely for Syndicate Bank ED’s job, while V Kannan of Bank of Maharashtra is slated to join as one of the executive directors at Oriental Bank of Commerce.

With 11 state-run bank chairmen retiring in 2010, which will be filled up by executive directors, industry estimates suggest about 20 fresh vacancies for ED posts this year. Out of 20, three general managers have already been selected as EDs. Apart from EDs, who will be promoted as chairmen, four EDs from as many banks will also retire in 2010. In addition, some of the banks, like United Bank of India which has reached Rs 1 lakh crore business figure, will be eligible for second executive director.