Reuters Market Eye - Punjab National Bank
K. R. Kamath, chairman and managing director, demits office with effect from Oct. 28.
Kamath's exit upsets investors who were expecting an extension for him, say traders.
A new head at state-run banks generally leads to a clean up in the first few quarters which means higher restructuring charges, say some dealers.
India decided late Monday to draw up a new process to appoint top officials at state-run banks.
(Reporting by Abhishek Vishnoi)
