Process to select next Punjab National Bank chief to begin in July

Selection process for EDs in PSBs also starting soon

With the tenure of Punjab National Bank (PNB) managing director (MD) and chief executive officer (CEO) Atul Kumar Goel scheduled to end by December 31, the process to select his successor will begin next month, said a senior official.

“The process to select a new MD & CEO of PNB will commence from July. We will start receiving names, and then it will go to the Financial Services Institutions Bureau (FSIB), which will finalise the selection through interviews,” said the official. Goel was appointed PNB MD & CEO in 2022.

The FSIB is an autonomous body responsible for making recommendations for appointing senior executives to public sector financial institutions.

Established in 2022, the bureau is headed by former secretary of the Department of Personnel & Training, Bhanu Pratap Sharma, who is its chairman. Secretaries of the Department of Financial Services and the Department of Public Enterprises serve as its members, along with other expert members.

The official quoted above also said the process to select executive directors (EDs) for different public sector banks (PSBs) has also started.

“So far, we have received over 50 applications. After reviewing the eligibility criteria, we will forward these names to the FSIB for interviews,” official added. Last year, the FSIB recommended 16 candidates for the position of EDs in PSBs.

An email query sent to the finance ministry remained unanswered till the time of going to the press.

On an interview for selecting a new State Bank of India (SBI) chairman, which was postponed, the official said it will be conducted soon. “The FSIB has to complete its task,” he added.

The interview for a new chairman of SBI was scheduled for May 21-22, but was later deferred.

Several appointments took place this year in PSBs. In April, Nidhu Saxena joined as MD & CEO of Bank of Maharashtra, replacing AS Rajeev, upon his selection as Vigilance Commissioner in Central Vigilance Commission.

In April 2024, FSIB recommended Asheesh Pandey for the position of MD & CEO in Indian Bank. The tenure of Shanti Lal Jain as MD and CEO of Indian Bank is also set to end on August 1, 2024.

The bureau also recommended Rana Ashutosh Kumar Singh for the position of MD in SBI.