Nabard, AllBank still running headless

The government's relentless push for agriculture loans notwithstanding, the nodal bank, the National Bank of Agriculture and Rural Development (Nabard), has remained headless for months now.

Ranjana Kumar, chairperson and managing director, Indian Bank, is tipped to take charge at Nabard. She had given her consent a few months back but the government is yet to clear the file.

This is at a time when all government agencies are urging banks to increase their lendings. Meanwhile, Nabard elevated Amaresh Kumar, secretary and chief general manager, as executive director.

The post of chairman and managing director (CMD) of the Kolkata-based Allahabad Bank too has been lying vacant for over six months after B Samal retired on March 31.

A K Khandelwal, executive director, Bank of Baroda (BoB), declined to take over as the CMD of Allahabad Bank.

Bank of India executive director O N Singh is now tipped to be the CMD of Allahabad Bank. However, his file too has not been cleared.

BoB general manager in New York, S Balachandran, is slated to take over as BoI executive director after Singh takes over as Allahabad Bank chief.

Former Allahabad Bank CMD Samal was holding the charge of IIBI, the Kolkata-based financial institution. After his retirement, United Bank of India chief Madhukar has been holding dual charge at IIBI as well as UBI.

Yesterday, rural development minister Kanshiram Rana and minister of state for finance Anandrao Adsul met public sector bank chiefs and Reserve Bank of India deputy governor Vepa Kamesam on banks' rural credit.

At least two parliamentary committees are set to meet banks next week on their failure in extending sufficient credit to rural India.

Kumar, who played a pivotal role in turning around the ailing Indian Bank, will be the first woman, if appointed, to head the apex agriculture refinance institution.

Kumar will take over Nabard at a time when the institution is at a cross-road as liquidity flush banks aren't resorting to refinance from it.