Zee Media Bureau
New Delhi: Banking Secretary G S Sandhu on Friday said that the selection process of chairman and managing director (CMD) of 8 PSU banks will start on November 13 and the appointments will be made by end of November.
A panel, headed by RBI Governor Raghuram Rajan, is expected to hold interviews of eligible candidates for the post of CMD of 8 public sector banks.
Besides RBI Governor, the other members of the interview panel would include Deputy Governor of RBI, Department of Financial Services Secretary and a few external members.
The interview process would be objective and transparent, sources said, adding that the interviews of eligible candidates would be held in Mumbai.
Following the shortlisting by the high level panel, the name of the candidates would be sent to Appointments Committee of Cabinet (ACC) and other necessary clearances.
Earlier this week, the government scrapped the selection of six PSU bank heads and 14 executive directors (EDs) during UPA tenure following a separate panel finding irregularities in the process.
The UPA government had shortlisted heads of Bank of Baroda (BoB), Canara Bank, Indian Overseas Bank (IOB), Oriental Bank of Commerce, United Bank and Vijaya Bank.
Besides, vacancies of CMDs have arisen in Punjab National Bank and Syndicate Bank due to non-grant of extension and arrest respectively.
