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Thursday, January 25, 2007

Five public sector banks to see change of guard

Five public sector banks — IDBI Ltd, Bank of India, Punjab National Bank, Oriental Bank of Commerce and United Bank of India — will see a change of guard shortly. The chairmen and managing directors of these banks are due to retire shortly and the finance ministry has called executive directors of eight banks for an interview to fill the vacancies on Wednesday.

Ashok Kumar Jha, finance secretary, Vinod Rai, banking secretary, Reserve Bank of India deputy governor Leeladhar, management guru Pritam Singh and former State Bank of India chief Janaki Vallabh will conduct the interviews. Candidates with residual service of 2 years and more are likely to take precedence.

The panel has called K R Kamath, ED, BOI, Alok K Misra, ED, Canara Bank, Allen Pereira, ED, OBC, SA Bhatt, ED, UCO Bank, George Joseph, ED, Syndicate Bank, Subodh Kumar Goel, ED, Allahabad Bank, R S Reddy, ED Union Bank of India and MS Sundara Rajan, ED, Indian Bank .

Sources indicate apart from the eight EDs, there would be a lateral movement of smaller bank CMDs to bigger banks. K C Chakravarthy, CMD, Indian Bank, M D Mallaya, CMD, Bank of Maharashtra and T Narayanasami, CMD, Indian Overseas Bank, are names being considered for new assignments.

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