14th September 2015:   

On 31st July, 2015, we have given the likely list of new appointments of  MDs and CEOs at five large banks -- Bank of Baroda, Punjab National Bank, Bank of India, Canara Bank and IDBI Bank. (which included two appointments from private sector) 

Keeping in view some resentment among EDs of PS Banks,  then Financial Services Secretary Hasmukh Adhia had said heads of other PSBs would be from existing public sector banks and not private sector executives.   Govt also issued norms for selection of MDs and CEOs in the remaining 17 state-run banks.     As per the guidelines, the selection to the top job in state-run banks would be from the existing pool of executive directors (EDs) with a remaining service period of two years.  Similarly, for SBI the posts were to be filled from Deputy Managing Directors (DMDs

Now to short list candidates for the posts of MDs and CEOs of  the following four banks (Corporation Bank, Andhra Bank, Indian Bank, UCO Bank) , it has been decided to hold interviews :-

        (1)    Indian Bank is headless since its CMD T M Bhasin was appointed as a Commissioner in the Central Vigilance Commission in June. 

         (2) Andhra Bank is headless after superannuation of CVR Rajendran in August 2015.

          (3) Similarly,  UCO Bank CMD Arun Kaul had also retired on August 31.

         (4) Corporation Bank CMD S R Bansal is retiring in  January 2016

The following is the list of 12 Executive Directors of different PS Banks  that have been short-listed for interviews on 16th September, 2015

Moreover, the government has also invited six Deputy MDs of State Bank of India for interview for the post of Managing Director

 The interviews are taking place to fill up the vacancy which will be created on superannuation of P Pradeep Kumar, who looks after corporate banking group, on October 31.

 Six candidates that have been called for interview are  Praveen Kumar Gupta (MD, SBI Caps), Varsha Purandare (DMD & Chief Credit Officer), Dinesh Khara (MD, SBI Mutual Fund), Sunil Srivastava (DMD - Corporate Strategy and New Business), Shashi Kumar (DMD - Inspection & Management Audit) and M S Shastri (DMD and Chief Risk Officer).

 We wish good luck to all the candidates.

31st July 2015:   PS Banks are these days are discussing whether now major nationalised banks will be headed by people are private sector.   The following are likely to head the banks indicted against their names :-

 EDs / General Managers / Chief General Managers of PS Banks who were hoping to get to the top of ladder in view of their connections in right places  (as has been the trend in recent years)  are now a worried lot !!   Questions is whether private sector top managers will be able to change the fate of these banks or they too will yield to pressures and/or indulge in corrupt practices,  and NPAs will continue to rise. 

16th June 2015:  The following is the list of the candidates who were called for interviews for appointment as CMD in six large PS Banks on 15th and 16th June 2015 :

Bankers are talking about the capabilities of many of the selected candidates being interviewed  for the posts of the largest six PS Banks.   There are few DGMs and on the other hand there are few already CMDs.  There is huge gap of handling the issues at the top level.   The selection criteria is not in public domain and some of the names included are considered to have a poor image in terms of their vision and knowledge.  Let us see whether the final selection will be fair and only competent people are finally selected for these posts.

16th June 2015:   The retired CMDs continue to lobby for their re-settlement  after reaching the age of 60 years.  Lower ranked bankers fail to  understand how come is their dearth of competent people below the age of 60 years .  Two recent examples of appointments after completion of their tenure as CMD are that of :-

(a) Mr T M Bhasin who has been appointed as CVC. (Let me give below some of the news items that appeared for this man.   People still remember him for the episode when the Mumbai Zonal Manager of Indian Bank, Banabihari Panda, was suspended for failing to provide "minimum basic courtesies" to the bank's Mr T M Bhasin, who was CMD of Indian Bank,  on his arrival at Mumbai airport from Chennai last Thursday night. The charge faced by Panda, who holds the rank of General Manager, was that he kept the CMD waiting at the airport for over an hour as the keys got locked in when luggage was being loaded into the car (a common mistake that can be committed by any one in such a situation).   He is from the same bank which was exposed by Cobrapost for wrong doings by the bank staff.

Times of India’s Chennai edition dated August 31 2013 has a news item which read as follows : 

The Central Vigilance Commission (CVC) has sought action against Indian Bank CMD TM Bhasin and former ED V Ramgopal for “high-handedness, arbitrariness and manipulation” of appraisal reports of Malay Mukherjee, a general manager in the bank, with a view to deny him a promotion. 

The latest shocking charge against him has appeared recently in a blog "Incubation" under the heading "Nails on the Coffin of Criminal Banker ------", which even I was shocked to read.   If these charges are true to even small extent, it is a great concern for the country.

These are not our  personal views, but are those that appeared in public domain over last few months.   It is shocking  that a person with such a poor track record in public eyes  has become CVC.   It may be on account of his latest manipulative art wherein bank unions were made to bend on their knees to beg for mere 15% rise and retired bankers being denied any hike in pension. 

The worst thing for the bankers is that he is the same person who has deny their retired banker colleagues the rightful dues of pension (which has been reduced for latest retirees)  but he lobby with Government to get a cosy job of CVC  after their retirement. 

(b) Ms V R Iyer has been offered the post of whole-Time Member (Finance and Investment) of the Insurance Regulatory and Development Authority (IRDA) after her retirement as CMD from Bank of India.

This type of selective appointments after retirement encourages the top bosses to toe the line of illegal / immoral  orders from GoI officials during their service terms in the hope  to get cosy jobs after retirement.  This leads to  some decisions which are not in the interests of the bank which they are heading.   Such appointments needs to be stopped.

16th May 2015: 

29th April 2015:   Bankers are discussing the off the record  report that Andhra Bank may soon be merged with one of the leading PS banks.    Interestingly Andhra Bank has  reported a whopping 110 percent growth in profit during January-March 2015  quarter, driven by strong net interest income and other income. Fall in provisions and stable asset quality also boosted profitability.  

Does this sudden rise in profit has to do something with the merger of this bank.   Has the top management had got a wind and thus trying to project itself as a viable entity.  Only time will tell.

30th  March 2015:  Mr T M Bhasin, CMD of Indian Bank, who was scheduled to retire on 31st March, 2015 (after completing his 5 year term),   is reported to have been  given an extension for 14 months i.e. till the time he completes 60 years of age i.e. May 2016.    There are hot talks among the bankers, as to how he managed to get this extension whereas Mr K R Kamath of PNB was shown the door unceremoniously last year.

Did Mr Kamath not got sufficient time to switch loyalty from Congress to BJP  OR Mr Bhasin (who is Chairman of IBA) has been awarded for his successful mission  to crush  the demand of  wage revision under 10th BPS  only to 15% hike instead of original demand of 40% raise.   If it is the later, then Staff should not expect much now as Mr Bhasin has to reciprocate the liberal attitude adopted by GoI in extension.

Bankers will continue to speculate only about these as truth is not likely to come into open.

26th March 2015:  Now Govt is working for holding interviews for the posts of Executive Directors in PS Banks.   The process is likely to take place as early as April 2015, for the vacancies likely to be filled in 2015 and 2016.   Bankers are watching how does the new government behaves in the appointment of these top jobs in Banks.

11th March 2015 ( Updated at 9.00 PM) :  Finally, the list of nine EDs has been released alongwith the bank allotted as ED.  We give below the details of the same:

10th March 2015:  There are reports that most of the  vacant Executive Directors posts in nationalised banks, will be filled up this week itself.   The final list will be out soon.  The following General Managers are likely to be elevated as Executive Directors :

The above indicates that promotions are skewed as BoB and BoI, General Managers are likely to get the major share of these promotions.   Are General Manager's of these banks are really much more intelligent and honest than other nationalised banks  OR they are the real manipulators.?   Bankers are talking about the reasons for this discrimination in hushed tones.

15th 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.