21st February, 2012 :   Honest bankers are admiring that  Dr Duvvuri Subbarao is proving a hard nut to crack as he is sticking to the original list of CMDs as per minutes signed by him.  Thus, there may not be any changes in the original list of candidates approved for the panel.  Hats off to Dr Subbarao for his stand.   It is wonderful news I have heard such a good news as most of the CMDs and other finance ministry officials have proved  themselves as SPINELESS and always ready to change the lists as and when asked to do so.   All honest bankers are well aware that this happens very frequently in bank internal promotions where lists are drawn, redrawn upto 10 times to accommodate the candidates who have pulled up the strongs.  Will GMs, EDs and CMDs will learn from Dr Sulbbarao ?
 

21st February, 2012 :  The Hot talks are going around that Mr K C Chakrabarty will be able to get extension and in such a situation, no new DG is likely to be appointed in next few months as there will be no vacancy.    Is it an indication that  Mr SubbaRao feels that Mr Chakrabarty is now a domesticated tiger or are some other forces play major roles in such extensions and will not allow the writ of Governor to run ?

18th February, 2012 :   Last few days we were getting reports that Mr Kamath, CMD of PNB may move to RBI as DG.   We avoided the reporting as this was being talked in hushed tones.  Now reports indicate that these were only rumors for the time being.    Now bankers are talking as to whether Mr K C Chakrabarty, current DG in RBI will retire in June this year itself.  Let us wait what happens to this DG who had to be reigned by Governor of RBI on number of occasions for his outbrusts.   It was something like Mouthshut Dotcom syndrome.  His recent utterances that there is nothing to worry for NPAs of PS Banks has triggered controversy as recently Finance Ministry has contradicted him by saying that PS Banks have been overstating profits and there is a need for proper provisioning for bad loans.  

Where is Anna...............?? Instead of saying "I am Anna, You are Anna", now politicians say "Anna is Dead.   Nobody is Anna in India".   Long Live This Class of politicians !!!

15th February, 2012 :   Valentine Day is over but.......  Banking circles are buzzing that  Dhanlaxmi Bank has  found her new valentine - Big Daddy.   People are closely  watching every move of both.   Will Big Daddy respond to Dhanlaxmi's moves.    Will Dhanlaxmi and SBI soon marry ?  You need not frown over Big Daddy marrying young Dhanlaxmi.   This happens in financial sector.  Such marriages are not decided in Heaven but on the tables of the Ministry of Finance / RBI.

13th February, 2012 :   The reported death of Mr. Shambhu Sharan Singh, Chief Manager of Punjab National Bank during a Manager's meeting has sent shock waves across the banking fraternity.   We feel there is an urgent need for IBA to take steps to stop such behaviour of top officials in open forums like Manager's meeting.   Read full article and suggestions  by allbankingsolutions.com to stop such abuse : Chief  Manager  Of  PUNJAB  NATIONAL   BANK  Dies  During   Manager's Meeting  

12th February, 2012 :   A sense of uneasy is prevailing among the top brass in the banking circles.   The issue of lateral movement of CMDs (which still remains a thorn for the GOI),  non clearance of files relating to promotions to the posts of EDs and CMDs, have created uncertainty and a sense of indecisiveness among the top management of most of PS banks.   No one is sure, what is likely to happen in next few days or what is not likely to happen in the coming week.    However, we can say with certainty that such an uncertainty is certainly bad for the PS banks, which are so near the closure of the financial year.   Hope good senses will prevail in Finance Ministry and files will be cleared soon.

7th February 2012 : 

(a) The hot talks in the banking circle are abuzz with the reports that IBA is in favour of later shifting of CMDs, but FM may not agree to the same owing to reasons already in public domain when a decision to scrap the earlier policy was undertaken.  We have to wait and watch for the final decision of Pranab da.

(b) In the meantime,  top circles in the banking are hotly discussing the reports that the names of the following existing GMs in different PS banks will find a place in the final list of candidates to be promoted as EDs in public sector banks.

The final list is likely to include few more names about which contradictory reports are coming.  Last minute efforts by some candidates with Government and God will certainly bear fruits for them.

6th February, 2012 : It is about 3 weeks back that we have discussed in this forum that soon the list of the EDs to be promoted as CMDs in 2012 will be declared.  The reports even indicated the likely Banks to be allocated to each of them.  However, since then we have reported that file is pending with FM.

The latest talks in the banking circle indicate that the file is pending owing to the objections by some existing CMDs of smaller banks, who wish that the earlier policy of lateral shifting of CMDs from smaller banks to bigger banks should be continued.   If FM agrees with the objections of these CMDs, then the newly promoted CMDs are likely to get smaller banks and not bigger banks like Canara Bank, Bank of Baroda, Bank of India.  Will the arguments and pressure tactics of existing CMDs will cut ice with FM?  Lets wait and the aspirants continue to be on tenterhooks as Pranab da takes his own time to settle the issue. 

30th January, 2012 :  Banking circles are abuzz with the selection process that has been initiated for promotions from General Managers of PS Banks to the posts of Executive Directors in PS Banks in the current year itself.   The process has been initiated and a majority of the candidates have already been interviewed, and remaining candidates are likely to be interviewed today itself.   The reports indicate that for 22 posts of EDs, only 39 candidates have been called for interviews.  The details of the GMs who are appearing for interviews are :-

AllBankingSolutions.com wishes all the candidates good luck.

30th January, 2012 :  The wide publicity that CVC's latest report (for the month of November, 2012) has received in the media has sent shock waves in banking circles as maximum officials who have been penalized are from nationalized banks.    Among the bankers, the maximum officials who have been penalised are from a small bank like Syndicate Bank, whereas the next in line is largest nationalised bank i.e. Punjab National Bank.  Earlier the general perception among the people about most corrupt bank was another north based bank.  The report indicates the shifting trends of corruption in the nationalised banks.  Now the top bankers  are already in damage control mode to save their reputation from being dubbed as among  the top most corrupt banks.  

Comments by AllBankingSolutions.com :  A number of surveys are conducted by reputed organisations like ET, Business Standard, Outlook etc.  to tell which are the Best Banks on various parameters.  General perception in public is that they conduct such surveys purely to get more and more ads from such banks or make happy that CMD.   Lakhs of rupees are wasted  on the award ceremonies conducted like FilmFare Awards.   Any one who is associated with these banks can easily dig out that such surveys are mostly  biased, but CMDs and EDs of such banks take pride in going through photo sessions showing the Awards they have got.    Then these are proudly shown on their banners and websites.   Can any media magnet has the guts to conduct an independent survey to find out the top 5 most corrupt banks in India and publish the same.  A few years back, IAS officers conducted a survey about the most corrupt officer.   Can IBA take lead and conduct survey for the most corrupt bank  or  can CMDs conduct a survey among themselves and publish the most corrupt CMD in banking sector every year.   We are sure, we are still far far away from such independent surveys or introspections.  Future of Anna Movement is really in danger.

27th January, 2012 :  The long wait for the final list of the EDs to be promoted as CMDs in Public Sector banks in the current year, appears to become still longer as the said file is reported to be pending.  We know it must be really tough time for the aspirants to the posts of CMDs.  

25th January, 2012 :  Banking circle are buzz with the hot talks about  Secretary Financial Services Shri D K Mittal and is tipped  to replace  Shri Rahul Khullar as Secretary Commerce.     This news is buzzing since Shri Mittal met Commerce Minister Anand Sharma. 

20th January, 2012 :  In banking circle, it is being hotly discussed as to why  CMDs of few banks have met Finance Minister separately.   Confirmation as to which of the CMDs met FM and what was the agenda of such CMDs  in meeting  secretly is awaited ?  Any guesses ???

20th January, 2012 : The list of new CMDs  to be appointed in the FY 2012-13 is still under consideration and it is reported that the same is now being directly dealt between Finance Minister, Mr Pranab da  and Mr DK Mittal Secretary Financial Service.   Will there be last minute changes ?  Bankers have to wait till cat is out of the bag.

19th January, 2012 :    We have been reporting about the new appointments of CMDs since interviews for the same were held.    On 16th January, 2012, we wrote that banking industry will soon see more and more women flexing their financial muscle power and given the names of 3 women likely to be approved for CMD posts.  (see report below).

Today a report in TOI under the heading "Women Set to Head 3 Public Sector Banks" has appeared proving that we were on the right track in this regard.   The reports now indicate that the following postings are likely to be given to these aspirants :-

     Name of the Candidate       Present Posting as ED in         Likely Posting as CMD in

(a) Ms. Archana Bhargawa -             Canara Bank                    United Bank of India

(b) Mr H S Mundra -                  Union Bank of India,                  Bank of Baroda

(c) Mr R K Dube -                      Central Bank of India                  Canara Bank

(d) Ms. Shubhalakshmi Panse             Vijaya Bank                     Allahabad Bank

(e) Ms.V R Iyer -                        Central Bank of India                 Bank of India

(f) Mr Ashwani Kumar                  Corporation Bank                        Dena Bank

Best of Luck to each one of them for their likely new assignments.

19th January, 2012 :  These days the top brass retiring from RBI and SEBI are allowed to take over new assignments immediately after retiring.    All this may soon change.  The appointment of DG of RBI to NSE soon after her retirement has raised this new controversy.  Till date  autonomous bodies like RBI and SEBI do not have a "cooling-off" period in their respective service rules.   Now Finance Ministry is contemplating of introducing the cooling period for the top brass of such institutions also.   Let us wait for the new rules and the date from which these will be made applicable 

18th January,  2012:  It is reported that Mr Narendra Singh has been appointed as CMD of Bank of Maharashtra wef 1st February, 2012.   Mr Singh at present is working as ED in Corporation Bank.  Shri. Narendra Singh, born on 11.09.1953, is a Master of Laws, with brilliant track of academics.  He started his career with Allahabad Bank in 1980 and become GM in 2005.

18th January,  2012: The file (see hot talks dated 16/01/2012 below) for issuance of final list of six CMDs for 2012-13 is reported to have not yet got the nod of Finance Minister.   Let us wait and see how long it will take and will there be some changes ?

16th January, 2012 :   

The interviews to fill up six posts of CMDs in various Public Sector banks were held on 12th January, 2012.   The public sector banks where  CMDs are to retire during the next financial year are Bank of Baroda, Bank of India, Canara Bank, Allahabad Bank, United Bank of India and Dena Bank.

It is reported that the following  Executive Directors posted in various banks appeared for the said interview :-

Ms. Archana Bhargawa - Canara Bank,

Mr R K Dube - Central Bank of India 

Ms.V R Iyer - Central Bank of India 

Mr Ashwani Kumar - Corporation Bank,

Mr Rajeev Rishi - Indian Bank,

Mr V Kannan - Oriental Bank of Commerce,

Mr Rakesh Sethi - Punjab National Bank,

Mr H S Mundra - Union Bank of India,

Ms. Shubhalakshmi Panse Vijaya Bank

Mr N.K.Maini of SIDBI

In the above list there are 3 women candidates.   Now question arises whether banking industry will soon see more and more women flexing their financial muscle power ??  The initial reports strongly indicate towards that.  Let us keep our fingers crossed and wait to see whether all the three women will make it to the top slots.

Among the above, the following are being considered the major  contenders and can find place in the final list to be declared soon :

(a) Ms. Archana Bhargawa - Canara Bank,

(b) Mr H S Mundra - Union Bank of India,

(c) Mr R K Dube - Central Bank of India 

(d) Ms. Shubhalakshmi Panse Vijaya Bank

(e) Ms.V R Iyer - Central Bank of India 

(f) ???

AllBankingSolutions.com wishes all the candidates good luck.