Millennium Post

Govt may hold fresh interviews for heads of three major PSBs

The Finance Ministry is mulling holding fresh interviews for the top jobs at three large public sectors banks by also inviting candidates from private sector as it looks for talent from a wider pool of applicants.

There is a proposal that the interview for executive heads of category A banks could be held once again where candidates from private sector banks can also appear, sources said.

The post of Chairman and Managing Director of Bank of Baroda is vacant since since 31 July while Punjab National Bank and Canara Bank are headless since October this year. If Appointments Committee of the Cabinet (ACC) gives a go ahead on making changes in the appointment rules of the directors in public sector banks, then Finance Ministry will shortly issue advertisement inviting applications from candidates including from the private sector, sources said. However, given the structure it is unlikely that any one from private sector would apply for post as renumeration level is quite low. This is also evident from the fact that recent selection process for Coal India's CMD did not see any professional from private sector expressing interest for the top job at the world's largest coal miner. 

The PESB ended up selecting a bureaucrat out of 12 who had applied for the top job. Experts said government may seek applications from the private sector but it is quite unlikely that anyone would apply for the post because of huge difference in salary. Meeting criteria for the top job of the public sector banks would also be difficult and it would be difficult to get their vigilance clearance and other regulatory clearances, official said.
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