New Delhi, Dec 1: Indian Overseas Bank (IOB) executive director RV Shastri was promoted chairman even as the finance ministry on Wednesday decided to convene a meeting of the appointments board in mid-December to fill up the vacant top slots at Bank of Baroda (BoB) and Canara Bank.Finance ministry officials said cabinet has already approved Shastri's appointment. The officials said the government was trying to speed up the appointments at the Canara Bank and BoB and appointments board will also take a look at the forthcoming retirements at the top level. The appointment board has the banking secretary as well as the economic affairs secretary as its members.
BoB chairman-cum-managing director K Kannan and IOB chief K Subramanian retired on Tuesday and handed over charge to their executive directors.Earlier in May, Canara Bank chief TR Sridharan retired and handed over the charge to Ranjana Kumar. The vacancy is still to be filled.
Finance ministry officials said the Government was taking steps to bring in timely appointments at the top level in PSU banks in future.
Over the next few months, 10 of the 19 chiefs of the nationalised banks will step down.
Officials said that the names of Canara Bank and BoB chiefs would be finalised in the next appointment committee meeting.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.