<p>In a significant departure from the earlier practice, the government has decided to now separate the post of chairman and managing director of public sector banks (PSBs). <br /><br /></p>.<p>The current structure at the country’s largest PSBs, the State Bank of India (SBI), which is headed by a chairman and assisted by several managing directors, will continue.<br /><br />“Hence forward, in the new appointments at PSBs, other than SBI, the chairman will be a part-time Board member who would preside over the meetings and will not be an executive chairman. The procedure for selection of a part-time chairman would be announced shortly,” the Finance Ministry said in a statement.<br /><br />The government also named CEOs of four banks. R Koteeswaran, Executive Director, Bank of India has been appointed as MD and CEO of Indian Overseas Bank (IOB). <br />Animesh Chauhan, ED of Central Bank of India, will head Oriental Bank of Commerce (OBC).<br /><br />Kishore Kumar Sansi, who is currently ED (Punjab and Sind Bank) will be the new MD and CEO of Vijaya Bank, while P Srinivas moves from Bank of Baroda (BoB) to United Bank of India as MD and CEO.<br /><br />The appointments will be for three years or till the date of superannuation, whichever is earlier, the statement said. The government did not name a replacement for Syndicate bank Chairman and MD S K Jain, who was allegedly involved in a graft case. “The appointment in one more bank i.e. Syndicate Bank is still under consideration of government and would be decided shortly,” the statement said.<br /><br /></p>
<p>In a significant departure from the earlier practice, the government has decided to now separate the post of chairman and managing director of public sector banks (PSBs). <br /><br /></p>.<p>The current structure at the country’s largest PSBs, the State Bank of India (SBI), which is headed by a chairman and assisted by several managing directors, will continue.<br /><br />“Hence forward, in the new appointments at PSBs, other than SBI, the chairman will be a part-time Board member who would preside over the meetings and will not be an executive chairman. The procedure for selection of a part-time chairman would be announced shortly,” the Finance Ministry said in a statement.<br /><br />The government also named CEOs of four banks. R Koteeswaran, Executive Director, Bank of India has been appointed as MD and CEO of Indian Overseas Bank (IOB). <br />Animesh Chauhan, ED of Central Bank of India, will head Oriental Bank of Commerce (OBC).<br /><br />Kishore Kumar Sansi, who is currently ED (Punjab and Sind Bank) will be the new MD and CEO of Vijaya Bank, while P Srinivas moves from Bank of Baroda (BoB) to United Bank of India as MD and CEO.<br /><br />The appointments will be for three years or till the date of superannuation, whichever is earlier, the statement said. The government did not name a replacement for Syndicate bank Chairman and MD S K Jain, who was allegedly involved in a graft case. “The appointment in one more bank i.e. Syndicate Bank is still under consideration of government and would be decided shortly,” the statement said.<br /><br /></p>
