The government has identified at least eight candidates for appointment as executive directors in various state-owned banks as some of the present executive directors have retired or will retire and some others are likely to be promoted as chairpersons and managing directors.
In all cases except one, existing general managers will be promoted as executive directors. The exception will be likely in the case of Union Bank of India as the government plans to laterally transfer SC Kalia, executive director, Vijaya Bank.
Bank of Maharashtra’s General Manager Shubhalakshmi Panse is likely to replace Kalia at Vijaya Bank.
The Union Bank’s executive director’s post will fall vacant as TY Prabhu takes charge of Oriental Bank of Commerce (OBC) as chairman and managing director.
OBC’s present head Alok Mishra is likely to move to Bank of India as chairman. Bank of India’s top post fell vacant on May 31 with the retirement of TS Narayanasami.
Among other names that the government is learnt to have finalised to fill vacancies arising out of retirements are Andhra Bank’s V Ramgopal for Indian Bank’s executive directorship, Bank of Baroda’s D Sarkar for Allahabad Bank.
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Indian Bank’s A Subramanian and Allahabad Bank’s KK Agarwal retired in June and July, respectively.
NS Srinath of Canara Bank is expected to join Bank of Baroda as its present executive director V Santhanaraman will retire by the end of this month.
Similarly, one executive director’s position in Indian Overseas Bank will fall vacant in October with G Narayanan retiring. Bank of India’s Nupur Mitra is likely to replace Narayanan.
All public sector banks with business over Rs 1 trillion are eligible for two executive directors. Andhra Bank, which has crossed total business of Rs 1 trillion, will get the second executive director. AA Taj of Union Bank of India is likely to take charge as Andhra Bank’s second executive director. Corporation Bank will also get one more executive director.
Kolkata-based Allahabad Bank is likely to get a new chairman and two executive directors. While its chairman KR Kamath is likely to join Punjab National Bank as chairman, one of the executive director JP Dua may be promoted to replace Kamath.
Ajai Kumar, general manager of Bank of Baroda, is likely to join UCO Bank, another Kolkata-based lender, as one of its executive director is expected to be promoted as chairman of a bank. Similarly, Union Bank’s SL Bansal is likely to join Dena Bank as executive director once Bhaskar Sen is promoted as the head of another bank. However, executive directors’ posts at both UCO Bank and Dena Bank will fall vacant in 2010.