On September 19, the Government of India appointed the heads of 10 nationalised banks. These banks have had vacant posts for months, which in turn hindered decision-making at the top levels. As a result, the Appointments Committee, which is headed by Mr. Narendra Modi, the Prime Minister of India, made appointments to the post of chief executive officers (CEOs) and managing directors (MD) of these state-run banks. The Government of India announced the same in a recent notification.
Among the new appointments that were made, five deputy MDs of SBI have been appointed as the CEOs and MDs of various nationalised banks.
Mr. Pallav Mohapatra will now be heading Central Bank of India, while Mr. J. Packirisamy will be heading Andhra Bank as its chief. Mr. Mrutyunjay Mahapatra will be heading Syndicate Bank and Ms. Padmaja Chundru has been chosen as the head of Indian Bank. Mr. Karnam Shekhar has been chosen by the government to head Dena Bank until the year 2020, although the government had recently made a proposal to merge Dena Bank with Bank of Baroda and Vijaya Bank.
Mr. A.S. Rajeev, who is currently serving as the executive director of Indian Bank, has been chosen as the CEO and MD of the Bank of Maharashtra. Mr. Ashok Kumar Pradhan, who is currently employed at United Bank of India as its executive director, has been chosen to head the same bank. Mr. S.S. Mallikarjuna Rao, who is at present serving as the executive director of Syndicate Bank, has been chosen as the CEO and MD of Allahabad Bank. Mr. Atul Kumar Goel, the executive director of Union Bank of India, has been chosen as the new CEO and MD of UCO Bank, while Mr. S. Harisankar, who is at present employed at Allahabad Bank as an executive director, will be heading Punjab & Sind Bank.
While some of the newly chosen heads have been appointed for a term up to their retirement, others will be serving a three-year term, which may be extended by another 2 years.
Sources: Livemint, The Economic Times