Tenure of 3 Executive Directors of PSU banks extended

By IndianMandarins- 10 Oct 2020


The Appointments Committee of the Cabinet (ACC) has approved the extension of the term of three Executive Directors (EDs) in various Public Sector Banks (PSBs):

The terms of Matam Venkata Rao (ED, Canara Bank), and Ajay Kumar Srivastava (ED, Indian Overseas Bank) were extended by two years beginning 8 October.

The ACC also approved the extension of the term of Debashish Mukherjee (ED, Canara Bank) for a period of two years beginning 18 February 2021, when his current term is due to expire.

Rajesh Kumar Yaduvanshi (ED, Punjab National Bank) ceased to be the director on the Board of PNBB from Friday on completion of his tenure on October 8.

It may be underlined that the Department of Financial Services (DFS) in the Finance Ministry had made these proposals based on the recommendations of the Banks Board Bureau (BBB).

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