Based on the recommendations of Appointments Board chaired by the Governor, the Reserve Bank of India (RBI), the Department of Financial Services (DFS), Ministry of Finance, Government of India announced the appointment of MD & CEO of four Nationalised Banks. The appointments announced are as follows:-

Sl.No.	Name of the person & present designation	Name of the Bank where appointed and designation
1.	Shri R. Koteeswaran, Executive Director, Bank of India	Indian Overseas Bank - MD & CEO
2.	Shri Animesh Chauhan, Executive Director, Bank of India	Oriental Bank of Commerce – MD & CEO
3.	Shri Kishore Kumar Sansi, Executive Director, Punjab & Sind Bank	Vijaya Bank – MD & CEO
4.	Shri P. Srinivas, Executive Director, Bank of Baroda	United Bank of India – MD & CEO

 The appointment of the above MD & CEOs is for a period of three years or till the date of superannuation, whichever is earlier.

 In a significant departure from the past practice, the Government of India has decided to now separate the post of Chairman and MD & CEO. 

Henceforward, in the new appointments of PSBs other than SBI, the Chairman will be a part time Board Member who would preside over the Board Meetings and will not be an Executive Chairman.  The procedure for selection of part time Chairman would be announced shortly.

The appointment in one more bank i.e. Syndicate bank is still under consideration of Government and it would be decided very shortly.

For three `A’ Category Large Banks, i.e. Bank of Baroda, Punjab National Bank and Canara Bank, the Government has decided to go for a fresh selection procedure with a view to widen the search of candidates.  The procedure for this would be announced shortly.

Separation of Chairman and MD & CEO: part time chairmen to preside while appointed MDs & CEOs retain executive roles. Appointments have been made elevating four Executive Directors to the posts of Managing Director & Chief Executive Officer for specified banks for three years or until superannuation. The Government has adopted a policy separating the roles of Chairman and MD & CEO in public sector banks (except SBI), making the Chairman a part time board member who will preside over board meetings without executive functions; selection procedures for part time Chairmen and for fresh searches in certain large banks will be announced shortly.