Selection process of CMDs of 8 PSU banks to start on Nov 13; appointments to be made by Nov-end: Banking Secretary G S Sandhu.
— Press Trust of India (@PTI_News) October 31, 2014
To fill up these 8 vacancies of CMDs along with those of 14 executive directors, the government decided the selection would be done by a panel comprising of RBI Governor or his nominee.New Chairman and Managing Directors for Bank of Baroda, Canara Bank, Indian Overseas Bank, Oriental Bank of Commerce, United Bank and Vijaya Bank,IOB and BoB will be selected by the new panel.
Union government has already scrapped the selection of six public sector bank heads recommended by the previous UPA government after a high-level panel found irregularities in the process that was followed.
