After getting a tepid response, the Banks Board Bureau (BBB) has yet again invited applications for Canara Bank’s MD & CEO post, which is lying vacant after Rakesh Sharma’s term ended on July 31, 2018.
In August, the BBB, which has the mandate to select candidates for board-level appointments in public sector banks, invited applications for the post of MD & CEO in Canara Bank. The post was made open to private sector candidates too. While BBB selects the candidates, the government takes a call on the appointment. Sources said there was not much response, prompting the BBB to invite candidates once again, though the eligibility criteria were not changed. Interested candidates have to apply to the BBB by January 10, 2019.
Interestingly, the government, in October, appointed Mr. Sharma as the MD & CEO of IDBI Bank.
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In a separate move, the government has made executive directors of public sector banks eligible for the managing director’s post in State Bank of India. At present, only deputy managing directors of SBI are eligible for SBI’s MD post.
“EDs of nationalised banks made eligible for selection as MD, SBI. Earlier, DMDs of SBI were made available to be MD in nationalised banks. Govt’s thrust to widen the top management talent pool and sharing of experience across PSBs continues.” Rajeev Kumar, secretary, financial services in the finance ministry, said in a tweet on Monday.
Currently, SBI has four MDs, but last year the government allowed the lender to have six MDs. The bank has to take its board’s approval to increase the number of MDs.
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