Winners' curse: Top bosses at PSBs see their term ending much before time

Govt has appointed 14 EDs at public-sector banks; their performance will be reviewed after three years for a two-year extension

The appointments committee of the cabinet (ACC), which cleared the appointment of 14 executive directors (EDs) at public-sector banks late evening on Monday, said these officials would be eligible for an extension of two years after completing their three-year term, provided they passed a performance review test. This means that many bankers’ career at public-sector banks will end much before they attain the retirement age of 60.
 
All 14 EDs have been given a term of three years from the date of taking charge. Their performance will be reviewed after the end of three years, and they would get