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FM seeks extension of tenure of MDs and Eds of PSBs

By IndianMandarins- 28 Jul 2021
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New Delhi (28.07.2021): Union Finance Ministry has sought extension of the tenure of three public sector bank (PSB) MDs including Punjab National Bank (PNB). It has recommended the DoPT for the extension of 10 executive directors (EDs) of various PSBs. The proposal has been sent to DOPT for the same after consultation with BBB.

The ministry has recommended the extension of SS Mallikarjuna Rao (MD and CEO, PNB) whose three-year term is coming to an end on September 18. Rao may get an extension for four months till January 31, 2022, when he attains his superannuation age of 60 years.

Atul Kumar Goel's term as MD and CEO of UCO Bank has been recommended for a two-year extension after November 1, 2021. AS Rajeev, MD, and CEO of Bank of Maharashtra, has been suggested for an extension of two years after December 1, 2021.

The ministry has also forwarded the name of SL Jain for the appointment of MD and CEO of Indian Bank. The BBB, the head-hunter for state-owned banks and financial institutions, had selected him in May after the interview.

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