Business

MD, CEO of Four Nationalised Banks appointed

New Delhi, Dec 31: Based on the recommendations of Appointments Board chaired by the Governor, the Reserve Bank of India (RBI), the Department of Financial Services (DFS) and Ministry of Finance has announced the appointment of MD and CEO of four Nationalised Banks.

Executive Director, Bank of India R. Koteeswaran has been appointed as the MD and CEO of the Indian Overseas Bank, another Executive Director of Bank of India Animesh Chauhan has been as the MD and CEO of Oriental Bank of Commerce, Punjab and Sind Bank Executive Director Kishore Kumar Sansi of Vijaya Bank and Bank of Baroda Executive Director P. Srinivas of the United Bank of India.

The appointments have been made for a period of three years or till the date of superannuation, whichever is earlier.

In a significant departure from the past practice, the Government of India has decided to now separate the post of Chairman and MD and CEO.

Henceforward, in the new appointments of PSBs other than SBI, the Chairman will be a part time Board Member who would preside over the Board Meetings and will not be an Executive Chairman. The procedure for selection of part time Chairman would be announced shortly.

The appointment in one more bank that is Syndicate bank is still under consideration of Government.

For three "A" Category Large Banks, i.e. Bank of Baroda, Punjab National Bank and Canara Bank, the Government has decided to go for a fresh selection procedure with a view to widen the search of candidates.

-ANI


Following Rs 11,000 cr scam, Fitch places PNB on 'Rating Watch Negative'

New Delhi: Following the fraud worth over Rs 11,000 crore in Punjab National Bank, the global ratings agency Fitch has placed the state-run bank's via...

Rotomac scam: CBI raids three places, FIR filed

New Delhi: The Central Bureau of Investigation (CBI) has conducted raids at three properties belonging to the Rotomac Pen company's owner in the early...

India is the hot-spot of digital innovation: PM Modi

New Delhi: Prime Minister Narendra Modi on Monday said that India is the hot-spot of digital innovation, across all sectors.'We not only possess a gro...

Now, Rotomac Pen's Rs 800 cr defaulter flees country

New Delhi: After billionaire diamantaire Nirav Modi, another defaulter Vikram Kothari, the promoter of Rotomac Pen, has also allegedly gone abroad aft...