Government makes top management changes in seven PSBs

New Delhi/Mumbai May 5 (IANS) The central government on Friday made major top management changes in seven public sector banks (PSBs).

The Appointments Committee of the Cabinet (ACC) approved the proposed postings of new Chief Executive Officers and Managing Directors at seven PSBs based on the recommendation given by the Department of Financial Services.

To appoint R. Subramaniakumar ED Indian Overseas Bank as MD and CEO in Indian Overseas Bank w.e.f. the date of his taking over charge of the post and till 30.06.2019 i.e. the date of his superannuation or until further orders whichever is earlier the order read.

Further the ACC appointed Rajkiran Rai G ED (executive director) Oriental Bank of Commerce as MD and CEO in Union Bank of India initially for a period of three years from the date of his taking over charge of the post on or after 01.07.2017 and extendable up to 31.05.2022.

It also appointed Sunil Mehta ED Corporation Bank as MD and CEO of Punjab National Bank w.e.f. the date of his taking over charge of the post and till 30.09.2019 i.e. the date of his superannuation or until further orders whichever is earlier the order read.

Others in the appointment list include Dinabandhu Mohapatra ED Canara Bank who was given the charge as MD and CEO in Bank of India while R.A. Samara Narayanan ED Bank of India was posted as MD and CEO in Vijaya Bank.

--IANS
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