FSIB invites application for Canara MD & CEO a week after notification

FSIB reopens applications for Canara Bank's top post a week after the Centre allowed private sector professionals to compete for PSU bank MD & CEO positions

Just few weeks after notifying the entry of private sector professionals for public sector Managing Director and Chief Executive Officer (MD & CEO) positions, the Financial Services Institutions Bureau (FSIB) on Thursday re-invited applications for the post of Canara Bank.

 

Private sector entry introduced for PSU bank leadership roles

 

On October 9, in a major overhaul of the way leadership is chosen in India’s public financial institutions, the government for the first time opened up one MD position in the State Bank of India (SBI) and other public sector banks for private sector bankers and empowered the FSIB to assess and recommend candidates, setting aside their Annual Performance Appraisal Reports (APARs).

 

“The applicant must have a minimum 21 years of experience, with at least 15 years of banking experience and at least two years at the bank board level, or at least three years at the highest level below the bank board (to be held on a substantive basis),” said the FSIB notification.

 

The tenure of K Satyanarayana Raju as MD & CEO, Canara Bank, ends on December 31, 2025.

 

Fresh applications required; earlier advertisement cancelled

 

“The previous advertisement published for this position on June 23, 2025, stands cancelled. Candidates who had applied earlier must submit fresh applications after satisfying themselves about the eligibility criteria and other conditions,” the notification said.

 

For candidates from public sector banks (PSBs) only, the applicant must have a minimum of 21 years of experience in banking and be either Deputy Managing Directors (DMDs) of SBI with at least one year of service as DMD, Executive Directors (EDs) of nationalised banks with at least one year of service as ED, or MD & CEO of a nationalised bank with at least one year as MD & CEO in the present posting, and have a residual service of two years, treating 60 years as the date of superannuation. Chief Vigilance Officers (CVOs) of public sector banks, except CVO of Canara Bank, are also eligible.

 

“Candidates from public sector banks with two or more major penalties imposed in their career shall not be eligible to apply for the position,” said the FSIB notification.

 

Application process, tenure and pay details

 

“The last date for submitting the completed online application is November 20, 2025, by 5:00 pm IST,” the notification added.

 

The term of office shall be as per paragraph 8(1) of the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970 and 1980, and the age of superannuation shall be 60 years.

 

The post of MD & CEO, Canara Bank, carries a pay scale of Rs 2,05,400 – Rs 2,24,400, plus allowances as admissible to chief executives of public sector banks from time to time.

 

“Selection will be based on shortlisting and personal interview. Applications received shall be scrutinised and shortlisted for interview based on experience and eligibility conditions. Final selection of candidates will be done by the FSIB,” added the notification.

 

Caution issued to applicants against false information

 

The notification further advised candidates not to furnish false, incorrect, tampered, or fabricated information and not to conceal or suppress any material facts while submitting their applications and supporting documents.

 

“In case it is detected at any time that the candidate has indulged in any of the above-mentioned activities, he or she will not only be disqualified but will also be liable to be dismissed from the services of Canara Bank at any time, even after being selected and joining the bank,” the FSIB notification said.