PSU bank chiefs selection: Pvt bankers can apply, too

In a bid to attract talent from a wider pool, the Finance Ministry has invited private sector bankers, besides the regular public sector executives, to apply for the top job at five large state-owned lenders.
Applications are invited from eligible professionals for fixed-term three-year appointment as Managing Director and CEO the in Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank and IDBI Bank.
This is for first time in PSU banking history that the government is inviting applications from executives working in the private sector for top post in state-run banks.
The last date for submitting applications for these posts is March 21.

The public notice was issued after the new appointment process was cleared by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi, sources said.
The salary package payable to the appointees will be flexible. The other terms and conditions of appointment will be those as may be specified by the Government at the time of appointment, as per the advertisement.

Applicants, as per the eligibility criteria, should have at least 15 years of experience in mainstream banking, of which at least three years should be served at the board level.
Candidates should be in the age group of 45-55 years as on the date of advertisement, it said, adding, shortlisted candidates will be called for preliminary interaction for the purpose of determining the eligibility.

The decision of the screening agency will be final. Candidates duly recommended by the the agency will only be called for the interview.
As per the advertisement, applicants should be person of ability, integrity and standing with knowledge and experience in banking and have proven management, leadership and innovative skills to build and inspire teams. They should have experience in institutional development in the banking sector.
The selected candidate must join within 30 days from the date of offer of appointment, it said.
After the new government assume power, the Coal Ministry had invited applications from the private sector for the post of CMD in Coal India. But it got no application from private sector executives.

It is to be seen whether private sector bankers would apply for the top job PSU banks or not.