Govt approves extension of terms of three MD-CEOs, 10 EDs of PSU banks

Mallikarjuna Rao of PNB, Atul Kumar Goel of UCO Bank and A S Rajeev of Bank of Maharashtra are the three MD-CEOs to have got extensions

The Appointments Committee of the Cabinet (ACC) has accepted the proposal of the Department of Financial Services (DFS) to extend the tenure of three managing directors and chief executive officers (MDs and CEOs) and ten executive directors (EDs) of public sector banks.

The ACC has approved the extension of tenure of S S Mallikarjuna Rao, MD and CEO of Punjab National Bank, until January 31, 2022, when he is due for superannuation.

The appointments panel has also approved a two-year extension for Atul Kumar Goel, MD and CEO of UCO Bank as well as A S Rajeev, MD and CEO