News Update

 
Govt disbands PSBs; sets up Panel to select CMDs for Public Sector Banks

By TIOL News Service

NEW DELHI, OCT 28, 2014: THE Government has constituted a Committee consisting of Secretary (Expenditure), Secretary (School Education) and Governor, Reserve Bank of India (RBI) to examine the selection process adopted for the selections to the posts of CMDs/EDs of Public Sector Banks (PSBs) for the year 2014-15. After receipt of the report of the Committee, the Government has decided to cancel the current selection process of CMDs/EDs of Public Sector Banks(PSBs). As a result, eight posts of CMDs and fourteen posts of EDs would require to be filled-up de novo.

The Government has decided that a fresh process for selection would have to be implemented for filling-up these existing vacancies wherein the Governor, RBI or his nominee of the rank of Deputy Governor should be a part of the selection process. The Government would fill-up all these vacancies expeditiously. The Government has also decided to finalise a new process for selection of CMDs/EDs for all future vacancies.


POST YOUR COMMENTS
   

TIOL Tube Latest

Mr. S Swaminathan, CEO and Founder, IRIS GST sharing his thoughts at the TIOL Awards 2022 event in November 2022





Ms. Shaifali Arora, Head, Indirect Tax, Vedanta Ltd sharing her thoughts at the TIOL Awards 2022 event.




Ms. Dolly Roy, CFO, Aditya Birla Fashion & Retail Ltd . sharing her thoughts at the the TIOL Awards 2022 event.