Appointments Committee of Cabinet Approves Criterion and Method of Selection of Managing Director and Chief Executive Officers in five Public Sector Banks; Guidelines Envisage both Governmental and Non-Governmental Candidates can Apply Who Have at Least 15 Years of Mainstream Banking Experience

Appointments Committee of Cabinet (ACC) has approved the criterion and method of selection of Managing Director and Chief Executive Officers in Five Public Sector Banks viz. Bank of Baroda, Punjab National Bank, Bank of India, Canara Bank and IDBI Bank.

The guidelines envisage that both Governmental and Non-Governmental candidates can apply. The candidate should have at least 15 years of mainstream banking experience, of which three years should at least be at the Board level. The candidate should be in the age group of 45 to 55 years and will have a fixed tenure of three years, subject to normal age of superannuation of 60 years.

The details in this regard are available on the web site www.financialservices.gov.in

Selection criteria for public sector bank MD/CEOs permit governmental and non governmental candidates with senior banking experience; fixed tenure and retirement. Appointments Committee of Cabinet prescribes selection framework for Managing Director and Chief Executive Officers in five public sector banks, permitting governmental and non governmental candidates who have at least fifteen years of mainstream banking experience with a minimum of three years at board level, are aged between forty five and fifty five years, and who will serve a fixed three year tenure subject to normal superannuation at sixty years.

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Appointments Committee of Cabinet Approves Criterion and Method of Selection of Managing Director and Chief Executive Officers in five Public Sector Banks; Guidelines Envisage both Governmental and Non-Governmental Candidates can Apply Who Have at Least 15 Years of Mainstream Banking Experience

February 26, 2015

Selection criteria for public sector bank MD/CEOs permit governmental and non governmental candidates with senior banking experience; fixed tenure and retirement.

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Appointments Committee of Cabinet Approves Criterion and Method of Selection of Managing Director and Chief Executive Officers in five Public Sector Banks; Guidelines Envisage both Governmental and Non-Governmental Candidates can Apply Who Have at Least 15 Years of Mainstream Banking Experience

February 26, 2015

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Selection criteria for public sector bank MD/CEOs permit governmental and non governmental candidates with senior banking experience; fixed tenure and retirement.

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