Mega merger of PSBs: What happens to the bank managing directors now

At least six managing director (MD) positions in PSBs will become redundant, as six smaller banks get subsumed into larger banks.  In September 2018, the government had announced the appointment of MD and CEOs of 10 PSBs, including Andhra Bank, Allahabad Bank, Syndicate Bank, United Bank of India and Indian Bank.

All of those mentioned here will be merged now with larger banks. The process may take six months, but the issue is that the MDs in these banks are retiring between 2020 and 2021.

However, the government has assured that the interest of the top management won’t be harmed because of the merger.

Here’s a list of bank MDs and the date they are due for retirement: