Business Standard

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

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

Lower issuances of debt and equity by non-financial entities and lower investments by LIC in corporate debt, infrastructure and the social sector have also resulted in lower credit flow

Namrata Acharya
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

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First Published: Aug 31 2019 | 1:43 AM IST

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