The newly-constituted Banks Board Bureau will right away start working on selection of managing directors and executive directors in public sector banks (PSBs), its Chairman Vinod Rai said.

Selection of senior management personnel to fill in existing and upcoming vacancies in PSBs will be an immediate priority for the Bureau, Rai told newspersons after a four-hour meeting in the Capital on Friday.

Selection process In the coming weeks, the Bureau would have to conduct selection process for at least three managing directors (falling vacant this year) and about 13 executive directors in various PSBs, it is reliably learnt.

Currently, there are public sector banks where the post of second executive director or the third executive director (for certain big banks) have yet to be filled.

Asked if the Bureau took any decisions at today’s meeting, Rai replied in the negative. He also did not want to commit to any timeline as to when the terms of reference of the Bureau will be finalised. Although the government had appointed a Banks Board Bureau, its terms of reference is yet to be finalised and made public. “We are at a very preliminary stage. We will tell you about our terms of reference, priority areas in the coming days. It’s also too early to have made any decisions.

“We have only had discussions today,” Rai said.

Participants The Bureau meeting was attended by members Anil K Khandelwal, a former Chairman of Bank of Baroda, HN Sinor, a former Joint Managing Director of ICICI Bank, and Roopa Kudva, a former Managing Director of Crisil.

Financial Services Secretary Anjuly Chib Duggal and senior officials of the Department of Financial Services were also present at the meeting.

Related Topics
comment COMMENT NOW