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Last week’s column on the government opening up some of the top slots at public-sector banks (PSBs) for professionals from the private sector has kicked off animated coffee-table discussions in the banking circles over the pros and cons of such a move. Let me try to summarise their ideas and concerns, while throwing in a few of my own unsolicited suggestions on the way forward.
First, a quick recap. In the first week of October, the Appointments Committee of the Cabinet (ACC) revised the guidelines for the selection of wholetime directors at public-sector banks, superseding all earlier norms.
Under the
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