The Appointments Committee of the Cabinet (ACC) has cleared three names for the Chairman and Managing Director (CMD) post in Public Sector Banks, but two names remain in suspended animation due to some clarifications sought by the Department of Personnel and Training from the Department of Economic Affairs.According to a senior finance ministry official, the clearance for promoting nine general managers to the posts of executive director is also pending’’.Sambamurthy, the executive director at Indian Bank, would take over as the CMD of Corporation Bank on April 1, 2006. M.V. Nair, CMD of Dena Bank is being moved to a much larger bank, the Union Bank of India. M.D. Mallya, the executive director at Oriental Bank of Commerce, has been cleared for the post of CMD in Bank of Maharashtra.The other names identified for the CMD post are Punjab National Bank executive director C.P. Swarnkar and Syndicate Bank executive director P.P. Mallya.But both would have to wait for a final clearance from the ACC.
