RACE FOR TOP SLOTS IN PUBLIC SECTOR BANKS HOTS UP

As per the  news item appearing in the Economic Times, the race for the top slot in PSBs is likely to be more intense in 2010 due to retirement of 10 PSB chiefs in the next 10-11 months and the finance ministry's decision to broaden its search by including senior executives from SBI and its associate banks. Finance Ministry has also relaxed some key selection parameters to accommodate more senior bankers in the list of probable candidates.


The ministry has shortlisted 21 very senior bankers, including four from the SBI group, three from financial institutions like Export Import Bank of India and Nabard and other executive directors from the PSB pool. Normally, SBI-ites had so far not been considered for the top slot in other PSBs, barring a few exception. In recent times, SBI’s Yogesh Agarwal’s selection as IDBI Bank chief can be seen as an exception. 

So far as the selection criteria goes, the requisite period left in career has been reduced to one year and six months from two years earlier. Again EDs with a minimum one year’s experience used to be shortlisted previously. Now, this has also been eased to six months.

Banks, which will see vacancies at the helm over the next few months, are Andhra Bank, Bank of Maharashtra, Canara Bank, Corporation Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab & Sind Bank, Uco Bank and United Bank of India (UBI).

Incidentally, the ministry has already notified Dena Bank ED Bhaskar Sen’s name as the next CMD in UBI. Mr Sen will assume charge at UBI in March this year, following retirement of the current chief SC Gupta.

Meanwhile, UBI executive director TM Bhasin has been tipped to join as the next CMD in Indian Bank on April 1. The ministry is expected to issue a notification soon to this end. Accordingly, there will be eight vacant CMD slots in 2010 which the shortlisted bankers will vie for.


Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/Race-for-top-slot-in-public-sector-banks-hots-up/articleshow/5562841.cms