The government has shortlisted around 40 general managers (GMs) from public sector banks to be interviewed for promotion as executive directors (EDs). The government will select 16-17 EDs from this list, the interviews for which will be held in February.
The interview panel will be headed by Usha Thorat, deputy governor of Reserve Bank of India, and will have four other members.
With 11 state-run bank chairmen retiring in 2010, which will be filled up by EDs, industry estimates suggest about 20 fresh vacancies for EDs this year. Of the 20, three GMs have already been selected as EDs from the interviews held in 2009.
Apart from EDs who will be promoted as chairmen, four EDs from as many banks will also retire in 2010. In addition, some of the banks, such as United Bank of India which has reached the Rs 100,000 crore-business will be eligible for a second ED.
According to government rules, GMs, who have three years of remaining service, are eligible for appearing at ED interview.
The finance ministry has sought consent from MR Naik of Corporation Bank for the second ED post at Allahabad Bank. Similarly, Ashok Dutt of Allahabad Bank is scheduled to go to Dena Bank as ED and SL Bansal of Union Bank of India is likely to become ED at Kolkata-based United Bank of India.