Public sector CMDs to get 5-yr minimum tenure

Under the new system, each bank will be required to put its list of general managers on its website so that other banks can choose from the talent pool. The officials said general mangers can go on deputation and the borrowing bank will have to maintain a stipulated ratio between general managers it wants from other banks and its own general managers.

8216;8216;This way it would be easy for banks to maintain a certain standard of performance as they can import talent in the segments where they lack it,8217;8217; said an official. The above procedures will also cover State Bank of India, whose chief general managers will be eligible to move to other banks.

8216;8216;We will weed out non-performers, including CMDs. We have removed CMDs of a couple of public sector banks in the past one year,8217;8217; the official said.