Govt seeks nod from candidates for bank ED posts

The government has started the process of appointing executive directors (EDs) at public sector banks by seeking consent from prospective candidates.

The finance ministry seeks the consent of candidates before announcing their appointment. After getting a candidate’s consent for a bank, the ministry seeks clearance from different agencies such as Department of Personnel and Training, Vigilance Commission, etc, before sending the name to the Prime Minister’s Office for final approval.

According to sources, the government has sought consents from 8-10 candidates.

Consent letters have been sought from D Sarker and Ajai Kumar, both general managers at Bank of Baroda for Allahabad Bank and UCO Bank’s executive directors’ post, respectively.

Bank of India’s Nupur Mitra has also given consent for Indian Overseas Bank’s executive director’s post, while AA Taj has given his consent for Andhra Bank’s executive director’s position.

The Hyderabad-based bank became eligible for a second executive director as the bank crossed the Rs 1 lakh crore-business mark.

NS Srinath of Canara Bank is expected to fill the post of V Santhanaraman at Bank of Baroda, who retired on August 31.

Bank of Maharashtra’s Suvalakshmi Panse is scheduled to move to Bangalore-based Vijaya Bank, while Vijaya Bank’s present ED SC Kalia is likely to join Union Bank of India.

One of the ED post in Union Bank of India fell vacant after TY Prabhu got promoted to Oriental Bank of Commerce last week.

Andhra Bank’s general manager V Ramgopal is scheduled to move to Indian Bank. Indian Bank’s ED A Subramanian retired in June.

Union Bank’s General Manager SL Bansal is likely to join Dena Bank once its present ED Bhaskar Sen moves to other bank as chairman and managing director in 2010.