 "UCO Bank posts Rs 440.57 crore loss in Q1, asset quality deteriorates")
State-run UCO Bank and Bank of Maharashtra are working without chairpersons since April 2015, the Lok Sabha was told on Monday.
Bank of India, Central Bank of India, Indian Bank, and Indian Overseas Bank, also do not have chairpersons.
The posts of chairpersons have been vacant in UCO Bank and Bank of Maharashtra since April 22, 2015, Minister of State for Finance Bhagwat Karad said in the Lok Sabha in a written reply.
The top post in Indian Bank has been vacant since August 2018, while Bank of India is without a chairperson since August 2020, Indian Overseas Bank since February 2020, and Central Bank of India since May 2021.
The country has 12 public sector banks (PSBs).
The provision to separate posts of chairpersons and managing directors in PSBs was made in April 2015.
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Subsequently, non-executive chairpersons have been appointed in nine banks, the minister said.
The government, which appoints chairpersons of state-owned banks, has constituted Financial Services Institutions Bureau (earlier known as Banks Board Bureau) to recommend persons who can be appointed as non-executive chairpersons in PSBs.
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