Mangalore, Sept. 27
THE Government will confine its role with regard to public sector banks to two functions holding a majority stake of 51 per cent in the banks and appointing chief executive officers, according to Mr Vinod Rai, Additional Secretary, Banking Division.
A Corporation Bank release said here on Monday that Mr Rai was speaking at the Corporate Award Ceremony, organised by the bank in Bangalore recently. The bank honoured those branch managers who excelled in their performance during 2004-05.
The release said that Mr Rai complimented Corporation Bank for its consistent good performance.
Earlier, Mr V.K. Chopra, Chairman and Managing Director, said that employee recognition schemes of Corporation Bank are unique in the banking industry. Mr K.L. Gopalakrishna, Executive Director, welcomed the gathering, the release added.