H N Sinor, member of the Banks Board Bureau (BBB), has quit one year after the Board was formed to handle senior-level appointments in public sector banks (PSBs). The resignation of Sinor, who was earlier with ICICI Bank and Central Bank of India, came days after many bank chiefs were suddenly moved out in a major reshuffle.
Those who were shifted from some of the major banks included Usha Ananthasubramanian from Punjab National Bank to Allahabad Bank and Melwyn Rego from Bank of India to Syndicate Bank. “ BBB was not consulted while shifting them. At least one more member of the BBB is unhappy over the matters involving BBB,” said a financial sector source.
Sinor had also worked as the CEO of the Indian Banks’ Association and the Association of Mutual Funds of India. He was managing director and CEO of ICICI Bank from July 1997 to March 2002.
Vinod Rai, former CAG of India, is the Chairman of BBB. The other members include Anil K Khandelwal, former CMD of Bank of Baroda, and Rupa Kudwa, former MD & CEO, CRISIL. The Bureau is responsible for the search and selection of heads of public sector banks, and for Wholetime Directors and Non-Executive Chairman on the boards of PSU banks.