Govt. appoints MD, CEO of four nationalised banks

Based on the recommendations of Appointments Board chaired by the Governor, the Reserve Bank of India (RBI), the Department of Financial Services (DFS), Ministry of Finance, Government of India has announced the appointment of MD and CEO of four Nationalised Banks.

Executive Director, Bank of India R. Koteeswaran has been appointed as the MD and CEO of the Indian Overseas Bank, another Executive Director of Bank of India Animesh Chauhan has been as the MD and CEO of Oriental Bank of Commerce, Punjab and Sind Bank Executive Director Kishore Kumar Sansi of Vijaya Bank and Bank of Baroda Executive Director P. Srinivas of the United Bank of India.

The appointments have been made for a period of three years or till the date of superannuation, whichever is earlier.

In a significant departure from the past practice, the Government of India has decided to now separate the post of Chairman and MD and CEO.

Henceforward, in the new appointments of PSBs other than SBI, the Chairman will be a part time Board Member who would preside over the Board Meetings and will not be an Executive Chairman. The procedure for selection of part time Chairman would be announced shortly.

The appointment in one more bank that is Syndicate bank is still under consideration of Government.

For three 'A' Category Large Banks, i.e. Bank of Baroda, Punjab National Bank and Canara Bank, the Government has decided to go for a fresh selection procedure with a view to widen the search of candidates.