Government approves norms to appoint MDs, CEOs of 5 State Run Banks
Government makes changes:
- Splits post of Chairman into Managing Directors & Chief Executive Officers.
- Allows private sector candidates to apply for MD & CEO in 'A' category banks
- Invites application for BoB, PNB, BoI, IDBI & Canara Bank
- Offers 3 years fixed tenure; flexible salary package to attract private sector talent
- None of the existing Executive Directors in Public Sector Banks will be eligible to apply.