PSU banks get 5 more executive directors

Five general managers (GM) of PSU banks are set to be appointed as executive directors (ED) by the end of the month.

The government has already appointed 10 GMs as EDs last week against 12 vacancies of EDs. While nine GMs were elevated as EDs on a single day, one more GM from Union Bank of India (Ajit K Roy) was also appointed as ED of Andhra Bank by the government later. The two banks, whose EDs are yet to be appointed include Bank of India and Punjab & Sind Bank.

The five GMs, who have been waiting in the wings for their elevation to EDs include Shankar Narayan (BoI), VK Shukla (Canara Bank), AK Jain (OBC), Umesh Kumar (Central Bank of India) and RK Verma (BoI).

Two EDs, working at Corporation Bank (A Daulatani) and United Bank of India (Deepak Narang) will be retiring from their posts on March 31 which will result in creation of two more posts of EDs.