Five public sector banks to get new chiefs soon

A top-level reshuffle in leading public sector banks (PSBs) is in the offing with Canara Bank, Bank of India, Central Bank of India, Indian Overseas Bank and Indian Bank slated to get new chairmen in a month or two.

The government has also finalised names of new executive directors for Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Corporation Bank, Oriental Bank of Commerce, United Bank of India, Syndicate Bank and Dena Bank, official sources said today.

"All the appointments are awaiting clearance of the cabinet committee on appointment," a source said, adding the names may be formally announced early next month.

The finance ministry has already cleared the names of five new CMDs for Canara Bank, BoI, CBI, IOB and Indian Bank.

Indian Bank chairman MBN Rao will take over charge in Canara Bank. The post of chairman in the Bangalore-based bank was lying vacant after its earlier chief V P Shetty became chairman of IDBI.

K C Chakraborty, who is at present ED of PNB, is slated to take charge at the Chennai-based Indian Bank from Rao.

Andra Bank chief TR Narayanswamy is tipped to be the new CMD of Indian Overseas Bank after S C Gupta took over charge at the helm of PNB.

K Ramakrishnan, the present ED of BoB, is tipped to become the new chairman of Andhra Bank.

BoI's executive director M Balachandran is slated to be promoted as the bank's new chairman after the present CMD M Venugopalan retires.

H A Daruwala, the present ED of OBC, is tipped to become the chairman of Central Bank of India after its present CMD Dalbir Singh retires next month.

While some of the EDs are slated to be promoted as chairmen, the government has also decided to promote nine of the best performing general managers to the post of EDs.

PNB general manager CP Swarnakar, who was instrumental in the bank's successful public offer two months ago, will be promoted as its ED.

Similarly, Central Bank of India's general manager K Raghuraman will be promoted as the bank's ED.

Two general managers of Union Bank of India are being promoted "" P L Gairola will go to BoI while K L Gopalkrishnan will move to Corporation Bank.

AC Mahajan of BoI is tipped to become the ED of BoB, while AC Mallya of Corporation Bank will come to OBC.

PP Malya of Canara Bank will join Syndicate Bank, U S Kohli of Punjab & Sind Bank will move to Dena Bank and S Lahiri of Uco Bank will join United Bank of India as ED.