Money & Banking

BBB invites applications for PNB MD & CEO post

Our Bureau New Delhi | Updated on June 15, 2021

Applicants must have a minimum experience of 15 years in mainstream banking

The process of selection of the next Managing Director and CEO of Punjab National Bank (PNB), the country’s second largest public sector bank, has begun with the Banks Board Bureau (BBB) inviting applications for this post.

The incumbent MD & CEO Ch S.S. Mallikarjuna Rao’s term at the helm of PNB is due to end on September 18 this year. Prior to joining PNB as MD & CEO in September 2019, Rao was the MD & CEO of Allahabad Bank since September 2018.

The BBB has now stipulated that any applicant who wants to be considered for this top post at PNB should be in the age group of 45 to 57 years as on September 19, 2021.

Also, the BBB has, among other things, specified that the applicant should have a minimum experience of 15 years in mainstream banking, of which at least one year should be at the board level as on September 19, 2021.

The selected person would hold the office for a period of three years, subject to the age of superannuation as 60 years, according to BBB. The last date for submitting the online application for this post is July 17, 2020, the BBB has said.

The new person who will take over from Rao later this year will have to manage a much larger banking institution as PNB had from April 1 last year gone in for a three way amalgamation with Oriental Bank of Commerce and United Bank of India from April 1, 2020, paving way for the creation of India’s second largest public sector bank with business of over ₹18 lakh crore.

Published on June 15, 2021

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