Ten executive directors appointed to public sector banks for 3 years

22 Nov 2022 CW Team

Ten executive directors have been appointed to public sector banks for a three-year term, subject to review after two years, just days after the government increased the tenure of whole-time directors in public sector banks to ten years.

These are: Lalit Tyagi (Bank of Baroda), Binod Kumar (Punjab National Bank), Ashok Chandra (Canara Bank), Ramasubramanian (Union Bank), Mahesh Bajaj (Indian Bank), M Paramasivan (PNB), Subrat Kumar (Bank of India), Malladi Venkat Murali Krishna (Central Bank of India), Rahendra Saboo (UCO Bank), and Sanjay Mudaliyar (Indian Overseas Bank).

The union government has decided to increase the term of whole-time directors in public sector banks, including managing directors and CEOs, from five to ten years, in an effort to attract younger talent in the top position.

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