Finance Ministry recommends extension of tenure of chiefs of 3 PSBs

The Finance Ministry has sought extension of tenure of heads of three public sector banks (PSBs), with the Department of Financial Services (DFS) writing to the Department of Personnel and Training (DoPT) for the same.

Besides, the ministry has also recommended extension of tenure of 11 executive directors (EDs) of PSBs, Business Standard reported.

Extension has been sought for Punjab National Bank (PNB) MD and CEO S S Mallikarjuna Rao, UCO Bank MD and CEO Atul Kumar Goel and Bank of Maharashtra MD and CEO AS Rajeev.

While extension till January 31, 2022 has been sought for Rao, whose term is ending on September 18 this year, the minister has recommended two years extension for Goel and Rajeev beyond Novemeber 1 and December 1, respectively.

The DFS sent the proposal to DoPT after consultation with the Banks Board Bureau (BBB), the headhunter for state-run banks and financial institutions, sources were quoted as saying. The letter also said that the approval has been approved by Finance Minister.

After BBB finalises its recommendations, the names would be sent to the Appointments Committee of Cabinet, the publication said.

For EDs, extension has been recommended for Shanti Lal Jain and Ajay K Khurana of Bank of Baroda, Canara Bank's A Manimekhalai, PNB's Sanjay Kumar and Vijay Dube, Bank of India's P R Rajagopal, among others.