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Despite one-third posts vacant, only 13 women occupy top ranks in 12 Public Sector Banks

Bank of India and UCO Bank have 6 vacancies each on their respective boards, the rest have between 4-5 vacancies each
Last Updated : 09 January 2023, 09:37 IST

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Only 13 women are in the top echelons of 12 Public Sector Banks (PSBs) accounting for 10.66 per cent of 122 Directors, even as more than one-third of such posts remain vacant at present, an analysis has shown.

None of the 12 banks also have Officer Employee and Workmen Employee Directors, who are brought into the highest decision making bodies to provide their expertise especially with regard to giving out loans.

While only four vacancies in these two categories are a legacy from the UPA government, according to the analysis by transparency activist Venkatesh Nayak based on information provided in the Financial Services Institutions Bureau (FSIB) website, the remaining 20 are from 2014 after Narendra Modi-led BJP government assumed power.

Bank of Maharashtra, Central Bank of India and UCO Bank do not have any woman Director on their board while Canara Bank, Indian Overseas Bank, Punjab and Sind Bank and Union Bank of India have two women Directors each.

Bank of Baroda, SBI, Bank of India, Punjab National Bank and Indian Bank have one each woman Directors.

Altogether, according to the analysis by transparency activist Venkatesh Nayak, there are 186 posts of Directors in these banks but only 122 have been filled, leaving a vacancy of 64 or 34.41 per cent. Among the 122 Directors, 109 are men.

In September 2021, there were 91 vacancies of Directors, which is close to 50 per cent, with Nayak saying the only solace is that the number of vacancies has come down to around 34 per cent.

The oldest vacancy is from September 2009 in Punjab and Sind Bank and the most recent one is from 1 January, 2023 in Canara Bank. The remaining vacancies have arisen between 2014 and 2022. Seven posts fell vacant in 2014, five in 2015, 13 in 2016, five in 2017, three in 2018, eight in 2019, 12 in 2020, four in 2021 and two in 2022, the analysis showed.

When it comes to vacancies, Bank of India and UCO Bank have six vacancies each on their respective boards while the remaining banks have between four to five vacancies each. Nayak said none of the management boards PSBs have the full complement of Directors as required by law.

In Bank of India and UCO Bank, Directors in the category of Workmen Employee, Officer, Non-Official (3 each) and Non-Executive Chairman are vacant.

"It is interesting to note that at least 13 vacancies continue to exist from before 2016 - the year in which the Bank Boards Bureau (BBB) now rechristened as Financial Services Institutions Bureau (FSIB) was constituted," Nayak said.

With the exception of the State Bank of India, 11 PSB boards do not have a non-official Director with Chartered Accountancy specialisation. This Director is the Chairperson of the Bank's Audit Committee, which vets the decisions of these banks, especially with regard to lending operations.

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Published 09 January 2023, 09:00 IST

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