The Government has cleared the decks for appointing new chiefs for seven public sector banks, including Canara Bank, Corporation Bank, UCO Bank, and Indian Overseas Bank.
With the top slots at most of these banks falling vacant over the next few months, the Government appears to have expedited the appointment process.
Mr S. Raman, Executive Director (ED), Union Bank of India, will assume charge as the Chairman and Managing Director (CMD) of Canara Bank. Mr M. Narendra, ED, Bank of India, will move to Indian Overseas Bank as CMD.
Mr Ramnath Pradeep, ED, Central Bank of India, will head Corporation Bank and Mr Arun Kaul, ED, Central Bank of India, will be at the helm of UCO Bank.
Mr R. Ramachandran, ED, Syndicate Bank, will assume charge as CMD of Andhra Bank. Mr H.S.U. Kamath, ED, Canara Bank, will move to Vijaya Bank as CMD.
Mr Nagesh Pydah, ED, Punjab National Bank, will move to Oriental Bank of Commerce.
According to Mr N. Shankar, Workmen Director, Union Bank of India, 54 per cent of the experienced workforce, right from clerical staff up to the general manager level will retire from public sector banks in the coming three years. The recruitment and promotion process needs to be expedited to fill the void created by the superannuation of experienced bankers, he said.
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