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Top jobs at PSBs: Pride and prejudice over opening doors to private talent

Opening top positions at public sector banks for private candidates is a welcome move. Delinking their salary from the IAS is the next logical step

hiring slowdown, FY25, top banks, HDFC Bank, SBI, Axis Bank, attrition rates, recruitment, India banking sector, Talent Acquisition, staffing
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After a decade, the government reopens top PSB jobs to private bankers — but without market-level pay, can Delhi attract true talent to lead India’s state-run lenders?

Tamal Bandyopadhyay

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In April 2015, the Department of Financial Services (DFS), ministry of finance, invited applications for the post of managing director and chief operating officer (MD & CEO) for five large public sector banks (PSBs): Bank of Baroda, Bank of India, Canara Bank, IDBI Bank Ltd, and Punjab National Bank.
 
The eligibility criteria included “ability, integrity and standing with knowledge and experience in banking”, “proven management, leadership and innovative skills to build and inspire team” and “experience in institutional development in banking sector”.
 
The candidates, in the 45 to 57 age group, needed to have at least 15 years of banking
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