Indian Government makes top management changes in major PSBs

New Delhi/Mumbai: The central government on Friday made major top management changes in several public sector banks (PSBs).

The Appointments Committee of the Cabinet approved the proposed postings of new Managing Directors and CEOs at PSBs like Punjab National Bank (PNB), based on the recommendations by the Department of Financial Services.

R. Subramaniakumar, an Executive Director at the Indian Overseas Bank was appointed the bank’s MD and CEO, with effect from the date he take over charge of the post till June 30, 2019, the date of his superannuation, or until further orders, whichever is earlier.

Rajkiran Rai G., an Executive Director of the Oriental Bank of Commerce was appointed as MD and CEO in Union Bank of India, “initially for a period of three years from the date of his taking over charge of the post on or after July 1, 2017, and extendable up to May 31, 2022”.

Sunil Mehta, Executive Director of Corporation Bank has been made as MD and CEO of PNB with effect from the date he takes over charge of the post and till September 30, 2019, “the date of his superannuation, or until further orders, whichever is earlier”, said the order.

Dinabandhu Mohapatra, ED, Canara Bank, who was given the charge as MD and CEO in Bank of India, R.A. Samara Narayanan, ED, Bank of India was posted as MD and CEO in Vijaya Bank, Usha Ananthasubramanian, MD and CEO of PNB transferred as MD and CEO of Allahabad Bank, while M.O. Rego, MD and CEO of Bank of India has been shifted in the same position to Syndicate Bank with immediate effect.

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