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Mumbai: The Banks Board Bureau has sought applications for the post of chief executive officer of state-owned Punjab National Bank (PNB).

SS Mallikarjuna Rao, the current chief executive of the bank, was appointed in October 2019 and retires on 18 September 2021.

The incoming managing director and chief executive will hold office for a term of three years from the date of entering office, subject to the age of superannuation at 60 years. The bureau said in a statement that remuneration will be in line with compensation for chiefs of other large public sector banks and as may be approved by the competent authorities. It added that the candidate should be in the age group of 45 to 57 years as on 19 September 2021.

To be eligible, the applicant should have a minimum experience of 15 years in mainstream banking of which at least one year should be at the board level as on 19 September 2021. It said that the candidate should be a person of ability, integrity and standing with knowledge and experience in banking; should have proven management, leadership and innovative skills to build and inspire team. They must also possess experience of institutional development in the banking sector.

“Selection will be based on shortlisting and personal interview. Applications received shall be screened and shortlisted based on experience and eligibility conditions. The candidates may be called for preliminary interactions for the purpose of determining their eligibility," the bureau said.

The bureau, which began functioning in April 2016, recommends the selection of heads of public sector banks and financial institutions and helps banks formulate strategies and in their fundraising plans. It also advises the government on evolving suitable training and development programmes for managerial personnel.

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