Govt extends BoB interim chief's term for 3 months

The government has further extended the term of Bank of Baroda's (BoB) interim MD & CEO Ranjan Dhawan for three months while Bank of India will be headed by its Executive Director B P Sharma for the same duration.
Dhawan, the senior-most Executive Director of BoB, was given this additional charge in February.
This extension will take effect from June 8, 2015, and will be valid till the appointment of a regular MD & CEO or until further orders, BoB said in a BSE filing.
The post of a full-time MD & CEO at BoB has been lying vacant since July 2014 when the then Chairman and Managing Director S S Mundra was appointed RBI Deputy Governor.

Meanwhile, in a separate filing to BSE, Bank of India said Sharma will hold the additional charge of MD & CEO for three months.
"... The Department of Financial Services vide its order dated June 8, 2015, has entrusted the additional charge of the Managing Director and Chief Executive Officer (MD & CEO) of the bank to B P Sharma for a period of three months," it said.

Sharma's appointment comes into force from June 8, 2015, and will be till the appointment of a regular MD & CEO or further orders, whichever is earlier, it added.
The Finance Ministry is already in the middle of finding MD & CEOs for five large public sector banks and has invited applications for the same.

It has received some 40 applications for selection as MD & CEO for Punjab National Bank, BoB, BoI, Canara Bank and IDBI Bank for a fixed term of three years.
Also, it's learnt that the Finance Ministry might relax the eligibility criteria for the selection of MD & CEOs of these PSBs if applicants fail to pass the muster of the Reserve Bank of India (RBI).
Bank of Baroda was down 1.19 per cent on BSE at Rs 153.90 during noon trade while Bank of India traded 0.46 per cent up at Rs 174.65.