The menu of options for eligible candidates eyeing the post of CEO at top-notch public sector banks just got bigger. The Banks Board Bureau (BBB) has added two more public sector banks — Bank of Baroda and Canara Bank — to the list of banks for which it has invited applications for the posts of Managing Director and CEO.
Only recently had BBB invited applications for the posts of Managing Director and CEO at Punjab National Bank and Bank of India.
The last date for sending in applications has now been revised to September 23. It was earlier pegged at September 16 for the posts in the two banks, Punjab National Bank and Bank of India.
Now that applications have been invited for the top posts at BoB and Canara Bank, it is clear that both incumbents PS Jayakumar, who is now Managing Director and CEO of Bank of Baroda, and RA Sankara Narayanan, who is the MD and CEO of Canara Bank, will not get extensions, said banking industry observers. It may be recalled that the government had, in October last year, given Jayakumar a year’s extension with effect from October 12.
This extension had come in the backdrop of the amalgamation between Bank of Baroda, Dena Bank and Vijaya Bank to form the country’s second-largest public sector bank.
While Jayakumar will demit office in October, Sankara Narayanan is expected to complete his term early next year.
The eligibility criteria and selection process, specified earlier for the posts of MD and CEO of PNB and Bank of India, will apply even for Canara Bank and Bank of Baroda.
These include age of 45-57 years and minimum experience of 15 years in mainstream banking, of which at least one year should be at the board-level
‘An afterthought’
The BBB move to call for applications for the posts of MD and CEO of Bank of Baroda and Canara Bank a few days after a similar exercise was carried out for PNB and Bank of India seems like an “afterthought”, felt some banking industry observers.
This is because it was quite well known that the top posts in both Bank of Baroda and Canara Bank were falling vacant this fiscal, they said.