Government appoints MD & CEO of IOB, OBC, Vijaya Bank and United Bank of India

Today on December 31st 2014, government has appointed MD&CEO of four nationalized banks based on the recommendations of Appointments Board chaired by the Governor, the Reserve Bank of India (RBI), the Department of Financial Services (DFS), Ministry of Finance, Government of India announced the appointment of MD & CEO of four Nationalised Banks.

MD & CEO of IOB, OBC, Vijaya Bank and United Bank of India

They are P Koteeswaran, executive director of BOI has been appointed as MD and CEO of Indian Overseas bank, Animesh Chauhan, who is currently working as executive director of BOI will be the new MD and CEO of Oriental bank of commerce.

Mr Kishore Kumar Sansi, executive director of Punjab & Sind Bank will head Vijay Bank as MD and CEO. P Srinivas, executive director of BOB will be moving to united bank of india as MD and CEO.

The appointment of the above MD & CEOs is for a period of three years or till the date of superannuation, whichever is earlier.

In a significant departure from the past practice, the Government of India has decided to now separate the post of Chairman and MD & CEO.

Henceforward, in the new appointments of PSBs other than SBI, the Chairman will be a part time Board Member who would preside over the Board Meetings and will not be an Executive Chairman.  The procedure for selection of part time Chairman would be announced shortly.

The appointment in one more bank i.e. Syndicate bank is still under consideration of Government and it would be decided very shortly.

For three `A’ Category Large Banks, i.e. Bank of Baroda, Punjab National Bank and Canara Bank, the Government has decided to go for a fresh selection procedure with a view to widen the search of candidates.  The procedure for this would be announced shortly.

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