The guidelines were issued after the approval by the Appointments Committee of Cabinet for selection of MDs & CEOs in Public Sector Banks other than 5 large Public Sector Banks.
Guidelines for the Selection of CEOs and MDs of Small PSBs:
• The top post in the PSBs would be filled from the existing pool of (EDs) executive directors or deputy managing directors in state-owned banks with a remaining service period of two years.The private sector executives would not be the part of selection process of top management.
• DMDs of IDBI Bank, the EDs of nationalised banks and MDs of associate banks of State Bank of India who have 1 year of service experience as ED/DMD/MD and who have 2 years of service left are entitled for post of MD & CEO.
• Other thann 5 large PSBs, for the remaining banks hiring will be conducted from the pool of executive directors of the public sector banks itself.
• For the 5 large banks Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank and IDBI Bank, there will be a different procedure for the selection.
Selection Methodology:
• The selection the candidate will be done by the interaction of the candidates with three panels of the sub-committee of the Appointments Board, where the candidates will be rated out of 100 marks.
• 50 marks will be awarded for the Annual Performance Appraisal Reports of 5 years and 50 marks will be assigned on basis of performance during interaction with the sub-committee.
• For the post of Executive Director, the General Managers of nationalized banks and CGMs of associate banks of State Bank IndIa, who have 2 years of experience of service will be eligible.
The guidelines came following raised due to appointment of 2 private sector bankers to head Bank of Baroda and Canara Bank. This selection process will be followed from the September 2015.
Union Govt. Issued Norms for the Selection of CEOs and MDs of Smaller PSU Banks
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