Banks Board Bureau invites applications for top posts of 4 big PSU banks

The Banks Board Bureau, the headhunter for state-run banks, has invited applications for the posts of Managing Director and Chief Executive Officer at four major public sector banks, including Bank of Baroda and Punjab National Bank.

The headhunter last week had issued public notices inviting applications for the top posts in Punjab National Bank and Bank of India but on Monday it broaden the exercise to include Bank of Baroda and Canara Bank.

The post of MD and CEO at Bank of Baroda and Canara Bank will fall vacant in October and January, respectively.

The post of MD and CEO in PNB will fall vacant after incumbent Sunil Mehta superannuates on September 30. The post in Bank of India is lying vacant since July 1 after Dinbandhu Mohapatra retired.

As per the Banks Board Bureau's (BBB) recruitment notice, candidates including from the private sector can apply for the vacancies at the four banks till September 23.

The appointments will be for three years.

"To help assess the leadership competencies and potential capabilities of shortlisted candidates an advisory firm may assist the Banks Board Bureau.

"The advisory firm will have no role in shortlisting. Shortlisted applicants will appear for interactions with the Bureau," the notice said.

Based on the interactions, the BBB said it will send its recommendation to the government.

PNB was hit by a massive fraud amounting to about Rs 14,000 after it came to light that jewellery designer Nirav Modi and his uncle Mehul Choksi fraudulently siphoned off the money in connivance with of some officials of the bank.

BoI was in the Prompt Corrective Action framework, but the RBI lifted the curbs in January this year after it met the regulatory norms including Capital Conservation Buffer (CCB) and net NPAs of less than 6 per cent as per third-quarter results.