Gold Silver Reports (GSR) – Five of the 10 newly named MDs and CEOs are working as deputy managing directors in SBI. Mahapatra and Chundru will have tenure till the date of their superannuation, i.e. May 31, 2020 and August 31, 2021, respectively, the order issued by the personnel ministry said.
Joining them are three other Deputy MDs of SBI Pallav Mohapatra, J Packirisamy and Karnam Shekhar, who have been appointed as MD and CEO of Central Bank of India, Andhra Bank and Dena Bank respectively. They all, too, will have tenure till the date of their superannuation. Mohapatra and Packirisamy’s tenure will last till February 28, 2021. Shekhar will be the MD and CEO of Dena Bank till June 30, 2020.
The move to appoint five deputy managing directors from the country’s largest lender is seen as the government’s effort to lend a helping hand to other banks grappling with high non-performing assets.
Mrutyunjay Mahapatra and Padmaja Chundru, both Deputy MDs in SBI have been appointed as MD and CEO of Syndicate Bank and Indian Bank respectively, as mentioned in an official order issued on Wednesday. Both Mahapatra and Chundru will continue their tenure till the date of their superannuation i.e. May 31, 2020 and August 31, 2021 respectively.
AS Rajeev, Executive Director of Indian Bank has been named MD and CEO of Bank of Maharashtra for an initial period of three years, extendable up to two years following a review of his performance, the order mentioned.
Besides these appointments, SS Mallikarjuna Rao, Executive Director of Syndicate Bank has been appointed as the MD and CEO of Allahabad Bank initially for a period of three years. Rao’s tenure will be extendable up to the date of his superannuation, i.e. January 31, 2022, the order said.
Ashok Kumar Pradhan who is the Executive Director of United Bank of India will be MD and CEO of the same.
Atul Kumar Goel and S Harisnakar have been appointed MD and CEO in UCO Bank and Punjab & Sind Bank respectively. Goel is the Executive Director of Union Bank of India and Harisankar is the Executive Director of Allahabad Bank.
Their appointments come more than two months after they were recommended by the Banks Board Bureau, an advisory body formed by the government for top level appointments in the banks.
They all will have tenure till the date of their superannuation. Mohapatra and Packirisamy’s tenure will last till February 28, 2021. Shekhar will be the MD and CEO of Dena Bank till June 30, 2020. Besides, SS Mallikarjuna Rao has been appointed MD and CEO of Allahabad Bank initially for a period of three years. Rao’s tenure will be extendable up to the date of his superannuation, i.e. January 31, 2022, the order said. He is the executive director of Syndicate Bank.
Three other Dy MDs of SBI, Pallav Mohapatra, J Packirisamy and Karnam Shekhar, have been appointed as MD and CEO of Central Bank of India, Andhra Bank and Dena Bank, respectively.
AS Rajeev, executive director of Indian Bank, has been named MD and CEO of Bank of Maharashtra for an initial period of three years and extendable up to two years after “review of his performance”. AK Goel and S Harisankar have been appointed MD & CEO in UCO Bank and Punjab & Sind Bank, respectively. Goel is executive director, Union Bank of India, and Harisankar is the executive director of Allahabad Bank. Ashok K Pradhan will be MD & CEO of United Bank of India. He is at present the ED of the same bank. – Neal Bhai Reports
