Home >Industry >Banking >Govt nod to extending terms of PSB execs

Mumbai: The appointments committee of the cabinet (ACC) has extended the tenure for 3 managing directors and chief executive officers (MD & CEOs) and 10 executive directors of public sector banks.

The ACC has approved the extension of tenure of S S Mallikarjuna Rao, MD and CEO of Punjab National Bank, until January 31, 2022, when he is due for superannuation.

The appointments panel has also approved a two-year extension for Atul Kumar Goel, MD and CEO of UCO Bank as well as A S Rajeev, MD and CEO of Bank of Maharashtra.

A two-year extension is provided to Bank of Baroda ED Ajay K Khurana, ED of Canara Bank A Manimekhalai and P R Rajagopal, Bank of India ED. Terms of Sanjay Kumar and Vijay Dube (Punjab National Bank), Gopal Singh Gusain and Manas Ranjan Biswal (Union Bank of India), Vikramaditya Singh Khichi (Bank of Baroda), Shenoy Vishwanath Vittal (Indian Bank), and Alok Srivastava (Central Bank of India) as EDs have been approved for an extension until their age of superannuation.

The finance ministry had written to the Department of Personnel and Training (DoPT) suggesting the extension of tenure of these MDs and EDs to ensure stability and continuity at state-owned lenders amid the pandemic even as the Banks Board Bureau identifies new candidates for the role of bank chiefs.

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