Govt finally appoints executive directors at 4 state-run banks

After long delay, the government has finally cleared appointment of executive directors at four state-run banks…

Bank of Baroda Q1 results shares
Jayakumar hopes to grow the loan book by about 10-15% this year. (Photo: PTI)

After long delay, the government has finally cleared appointment of executive directors at four state-run banks, including Bank of Baroda and Bank of India.

The government appointed R P Marathe, a General Manager with Bank of Baroda as an executive director of Bank of India, the bank said in an exchange filing today.

Bank of Baroda said its General Manager K Venkata Rama Moorthy has been elevated to the post of an Executive Director.

The government also cleared Kishore Piraji Kharat as Executive Director of Union Bank of India, while Harideesh Kumar B, General Manager with Vijaya Bank, will take over as Executive Director at Canara Bank.

It could be noted that late last December, a government appointed selection panel had interviewed 35 candidates to fill vacancies of 15 executive directors in various public sector banks.

Of those interviewed, names of 15 candidates were shortlisted and 12 were allotted banks. But a formal notification was pending.

Earlier, this year after splitting the posts of CMDs at state-run banks to MDs & CEOs, the government appointed MDs and CEOs for United Bank of Inda, Oriental Bank of Commerce, Vijaya Bank and Indian Overseas Bank.

Last month it had also said the existing appointment methods for the top posts would be scrapped and candidates from the private sector could also be welcomed for interviews.

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