Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,274.20569.4
Stock Analysis, IPO, Mutual Funds, Bonds & More

Banks Board Bureau invites applications for top posts in PNB, BOI

As per the BBB's recruitment notice, candidates can apply for the vacancies at PNB and BOI till September 16.

PTI|
Aug 18, 2019, 12.38 PM IST
0Comments
PTI
10
PNB was hit by a massive fraud amounting to about Rs 14,000 crore.
NEW DELHI: The Banks Board Bureau (BBB) has invited applications for the post of Managing Director and Chief Executive Officer (MD and CEO) in two major public sector banks, Punjab National Bank and Bank of India. The post of MD and CEO in PNB will fall vacant after incumbent Sunil Mehta superannuates on September 30. The post in Bank of India is lying vacant since July 1 after Dinbandhu Mohapatra retired.

The top post in another major state-run lender Bank of Baroda will fall vacant in October when the extended term of the bank's CEO and MD P S Jaikumar will end. However, the BBB has not included the vacancy in its latest selection process.

As per the BBB's recruitment notice, candidates can apply for the vacancies at PNB and BOI till September 16.

The appointments will be for three years.

"To help assess the leadership competencies and potential capabilities of shortlisted candidates an advisory firm may assist the Banks Board Bureau.

"The advisory firm will have no role in shortlisting. Shortlisted applicants will appear for interactions with the Bureau," the notice said.

Based on the interactions, the BBB said it will send its recommendation to the government.

PNB was hit by a massive fraud amounting to about Rs 14,000 crore after it came to light that jewellery designer Nirav Modi and his uncle Mehul Choksi fraudulently siphoned off the money in connivance with of some officials of the bank.

BoI was in the Prompt Corrective Action framework, but the RBI lifted the curbs in January this year after it met the regulatory norms including Capital Conservation Buffer (CCB) and net NPAs of less than 6 per cent as per third-quarter results.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service