Chairman posts vacant in six of 11 public sector banks, some for two years

Bankers said that RBI officials agreed on the issue of compensation but said such matters were decided by the government

At a time when the Reserve Bank of India (RBI) has been underscoring the need for governance in commercial banks, six of 11 public sector banks (PSBs) still do not have a non-executive chairman. Some of these posts have been lying vacant for more than two years.

UCO Bank, Bank of Maharashtra, Bank of India, Indian Overseas Bank, Indian Bank, and Central Bank of India do not have a non-executive chairman.

UCO Bank and Bank of Maharashtra never had a part-time chairman since the process of splitting the chairman and managing director (MD) posts started in 2015.

Moreover, there are not many independent