State Bank of India chairman Janki Ballabh is set to become the vigilance commissioner (VC). Ballabh may take up the new assignment even before his two-year tenure as SBI chairman expires in October end. As a VC, Ballabh will be responsible for overseeing vigilance in the financial sector.
P Shankar, former petroleum secretary and chief secretary, Tamil Nadu, he has been made chief vigilance commissioner (CVC). Shankar, who was also the heavy industry secretary, will replace N Vittal.
The director general of industrial security forces will be made the second vigilance commissioner. "On the line of election commissioner, now there will be once CVC and two VCs with specific responsibility," sources said. Consent has already been sought from the present SBI chairman and he is expected to take up the new assignment next month, after the new chairman is identified, sources added.
The finance ministry today interviewed five SBI deputy managing directors (DMDs) for the chairman's post. The five executives are AK Purwar, managing director, State Bank of Patiala; Chandan Bhattacharya, DMD, audit and inspection; S Santhana Krishnan, DMD and corporate development officer; Ashok Kini, DMD in charge of information technology and BD Sumitra, who was made DMD on July 31. Sumitra was till recently chief general manger, audit and compliance.
All of them have over two years of residual service, a necessary prerequisite for the chairman's post. Of the five DMDs, Purwar has the maximum residual service. He is slated to retire in May 2006.
The government has not yet cleared the appointments of two new managing directors. A K Batra is slated to become MD and group head of corporate banking and P N Venkatachalam is expected to be made MD and group head, national banking.
