(Are above circles
moving or is it only illusion ?? Are Some Hot talks only illusions ??
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Febraury 2015: Arun Srivastava, ED in Bank of India is likely
to be the next MD and CEO of Syndicate Bank
2nd January 2015: A lot of
controversy is raging for the new selection process to adopted for selection
of 3 CEOs & MDs for A Category banks i.e PNB, BoB and Canara Bank
2nd January 2015: Banks are
also discussing about the completion of the process of selection for the
posts of EDs in natinalised banks. However, names are yet to be
cleared by CVC for vigilance purpose.
2nd January 2015 : Bankers are
still grappling with the split of the CMD posts into two separate posts i.e.
(a) Part Time Chairman (b) CEO & MD post. The new roles are likely to
take much more time to settle as bankers have been tuned to handle only
single post at the head of the institution.
18th December, 2014 :
The appointment of new CMDs in seven banks is still likely to take few
days as certain issues are being settled before the final list is released.
27th November, 2014 :
Bankers are now waiting for the release of the final list of CMDs to
be posted in 8 banks. The reports indicate that the list may be
released by the end of the month or earlier December 2014.
Further, the name of Mr B B Joshi (at present ED at BoB) is in hot
discussions as he is tipped to be CMD of an important nationalized bank by
early December 2014 itself. The candidates who have appeared are
keeping their fingers crossed as it is the first selection process after the
change of government at the Centre.
17th November, 2014 :
reported earlier, now the
process of selection of 8 posts for CMDs in various banks has started.
The reports indicate that there are 16 eligible candidates for these posts.
Thus, chances of the candidates are 1:2. The bankers are
discussing the changes in the process of selection under which it is
proposed to set up THREE SELECTION COMMITTEES, each having only two members.
These THREE committees are to hold interviews of all the eligible candidates
i.e. each of the eligible candidate is to be screened through each committee
Now bankers are hoping that this change in the procedure will make it more
and more difficult for the candidates to influence THREE selection
committees which earlier used to be influenced by Financial Services
Secretary, who used to have almost final say. Let us watch this new
Three more candidates have been added to the list of candidates that are to
appear before three sub-committees as their vigilance is said to have been
cleared. These three are IDBI Bank DMD BK Batra, Andhra Bank ED S K
Kalra and finally Dena Bank CMD Ashwini Kumar. This may be for first
time that a CMD is appearing for CMD post? Bankers are not sure about the
reasons for the same.
It is also reported that final selection to the posts of CMDs will be done
by the Appointment Board which will be chaired by RBI Governor, and the same
will be based on the weighted average maks given by each of the three
committees. The trend is likely to make RBI Governor more
powerful and CMDs are likely to fall in line with RBI's dictates easily.
Hopeful this will help banking industry where greater respect will be
enjoyed by RBI Governor.
30th October, 2014 :
process of selection of 8 CMDs and 14 EDs is now likely to start towards the
end of November 2014, but the procedure may not undergo major changes at
least this time. Under the existing procedure RBI Governor heads the
Search Committee for selection of CMDs and EDs, but he does not sit in the
interview committee. He appoints a sub committee and the DG from RBI
and interview is taken by the panel where two external experts are appointed
and Financial Services Secretary is also part of the panel.
The questions are now being raised about the crucial role played by
Financial Services Secretary as being the top person in the panel has his
way in final appointments. A row has ensued that RBI Governor too
should be part of the interview panel so that the panel is more balanced.
Will new Government make some changes in selection process or it will be as
good or as bad as it is at present.
30th October, 2014 :
It is reported that Central Vigilance Commission (CVC) is now
required to complete the vigilance clearance process within two months from
the date of receipt of the vigilance profile of the candidates selected for
the appointments on board of Public Sector Undertakings (PSUs). This will
give some respite to officials who had their fates hanging for months
together and were at the complete mercy of CVC.
29th October, 2014 :
The scrapping of the panel of 6 CMDs and 14 EDs for
appointment in PS Banks during 2014-15, has come as a jolt for some of the
top brass of PS Banks. The report of TOI which appeared few weeks back is
a hot topic as that report clearly pointed that that a letter was sent by
CBI Chief to finance ministry citing reports of irregularities in several of
such appointments. CBI seems to
have found clues suggesting that ACRs and interviews were managed and some
middlemen played a role.
Interestingly, bankers are also talking about the
reports which indicate that five of the nine short listed candidates
were under the Central Vigilance Commission (CVC) scanner.
Another interesting thing which has been highlighted after the sacking of
Syndicate Bank CMD is the fact that Mr. SK Jain (CMD of Syndicate
Bank who was arrested by CBI in early August 2014 on bribery charges)
was appointed as CMD despite having "poor" ACRs.
The above shows the deep rooted malaise in the banking sector
and reasons for ever increasing NPAs and poor health of most of PS Banks.
Banking fraternity is in dilemma whether they should celebrate this cleaning
act or mourn the indelible stigma left by people at the level of CMDs and
28th October, 2014 :
Reports indicate that finally Mr KR Kamath has not been given extension
though he has not yet completed 60 years of age. This has
resulted in lot of speculation among bankers. The comments on FaceBook
indicate number of employees are exchanging greetings on his departure.
There are speculations as to why this has been done - one view is that the
new government will not follow the policy of extensions, whereas the other
view is his close proximity with the previous government.
Another speculation going around in Bank is that it is on account of his
extremely poor performance as CMD of PNB which was ranked as number one PS
Bank when he took over as CMD in 2009, and now PNB has slipped to rank of
four or so, and has huge NPAs and the
worst part is that the morale of the employees at all levels is at the
During his tenure he surpassed many competent senior officers in promotions
by introducing the concept of preferring junior officers (preferring those
who are to retire beyond 2020), and called it 2020 scheme.
Such officers were even openly encouraged to have separate meetings among
themselves and called it 2020 Club ! Thus, senior (age wise) officers got
antagonized as they have to work under junior officers although they were
equally competent but were ignored merely on account of age factor.
Younger staff failed to deliver on account of rift generated between such
Such open support for officers retiring beyond 2020 proved disaster for the
moral of the senior officers
and ultimately for the bank. His policy of compulsory transfers across
India was another red herring for officers, which he tried to correct during
last year of his tenure but failed to enthuse the officers.
Good luck to Mr Kamath for his future / retired life (Hopefully he too
will join some private sector firm like his predecessor Mr K C Chakrabarty
!) and hope the new incumbent will learn the correct lessons based on past
mistakes, and will be able to remove the rift and PNB will again achieve the
glory which I have seen during my service of being No. 1 in the industry for
almost 30 years (from 1980 when we joined till 2011 when I left).
The truth for not giving the extension will be known to select few people or
it may be out later on. Till that time we, like other bankers can only
28th October, 2014 :
We are writing on this page after long time as for last few months there
has been no activity on promotions and appointments of bankers, Today
it is a hot topic among top bankers that Mr K R Kamath, CMD of Punjab
National Bank has been refused any extension though he still had 13 months
of service left. Although some sources indicate that last minute
efforts are on for the extension. If he is not given any
extension, it will be one of the rare cases where a CMD has
been retired before completion of 60 years of age. Bankers are
speculating about the reasons for denial of extension.
28th October, 2014 :
controversial Dr K C Chakrabarty, former CMD of PNB and also ex-Deputy
Governor of RBI who took voluntary retirement a few months before his
retirement from RBI,
is said to have joined as an Independent Director of Indiabulls Housing
Finance. Bankers are talking about the morality of joining such
a job after remaining DG of RBI.
3rd February, 2014 :
once again an IAS Officer has been appointed as CMD of PSB.
Mr Jatinder Bir Singh, an IAS officer of 1983 batch and belonging to
Assam-Meghalaya cadre has been appointed as Chairman and Managing Director
of Punjab & Sindh Bank (PSB)
31st January, 2014 :It is hotly being debated as to why this Government is in hurry to clear
the list of promotions to the posts of EDs from the existing GMs of Banks?
It seems Congress Government has resigned that it will come to power this
time. Thus, they are in hurry to clear the list, though first posting
of the new EDs is due to start only from August 2014. What will
the new Government do with the list cleared in hurry now. Only God
29th January, 2014 :A number of bank officers are always looking for VRS owing to unnecessary
pressure tactics adopted by management or rarely on personal reasons.
However, there are only few instances where officers in Scale V and above
have opted for VRS. Reports indicate that Mr S K Widhani, General
Manager at Allahabad Bank has sought VRS. Any guesses for the reasons
28th January, 2014 :Mr R V Verma,
who is said to have resigned, is likely to join
Pension Fund Regulatory and Development Authority ( PFRDA). Just wait
27th January, 2014:
There is a buzz in banking circles that Mr R V Verma, Chairman of National
Housing Bank has sent his resignation. The rumors are going around
about his next move.
27th January, 2014:
Reports indicate that the list of 14 GMs to be promoted as ED in various
banks has been finalised and the same is likely to be sent to ACC for
26th January, 2014: J K Singh Kharb, GM at Dena Bank has joined as new Executive Director of
the Allahabad Bank.
26th January, 2014:
B K Divakara, General Manager at Corporation Bank, has been appointed new
Executive Director of the Central Bank of India.
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3rd December, 2013:
Mr Arun Tiwari, at present Executive
Director with Allahabad Bank, is likely to join Union Bank as CMD.
Earlier reports had tipped the name of Mr B K Batra for the same post.
7th October, 2013:
The orders apoointing Shri Gauri
Shankar (DoB 25.03.1956) as the Executive Director of PNB have been issued.
He has been appointed to ED's post upto 31.03.2016+ i.e. the date of his
attaining the age of superannuation. (At present he is GM, BoI)
4th October, 2013:
It is reported that the orders for
appointing Mr S R Bansal (DoB 03.01.1956), as CMD of corporation Banks have been issued (At
present he is ED at PNB). He will remain to the elevated post till
31.01.2016 ie the date of superannuation.
3rd October, 2013:
Banker are likely to soon see the
orders for the appointment of Ms Arundhati Bhattacharya as the new
Chairperson of SBI. The post had become vacant after the end of
the tenure of Mr Pratip Chaudhuri ended on 30/09/2013
3rd October, 2013:
Mr S Muhnot (presently with SIDBI) is tipped
for the top post of BoM in place of Mr Narendra Singh, who has retired on
30th September, 2013.
st October, 2013:
Mr S R Bansal, ED with PNB is likely to receive his posting orders on
promotion as CMD in Corporation Bank in next two to three days.
Simultaneously, the orders of Mr Gauri Shanker (presently GM in BoI)
for posting as ED in PNB in place of Mr Bansal are expected. Good Luck
to both of them
Hot Talks are merely those talks which are being talked about by bankers and /
or appear in media based on inside reporting. AllBankingSolutions.com
cannot guarantee these to be true and/or necessarily correct as final decision
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therefore, advised to wait for the final decisions and recheck from their own
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