Union Government appoints two private sector professionals to head BoB, Canara Bank

Union government has appointed two private sector banking professionals as Managing Director (MD) and Chief Executive Officer of Bank of Baroda (BoB) and Canara Bank.

This is the first time that Union government has appointed the two candidates from the private sector to head the Public Sector Banks (PSBs).

Appointed persons are

  • P S jayakumar: MD and CEO of Bank of Baroda (BoB).
  • Rakesh Sharma: MD and CEO of Canara Bank.

Apart from these appointments, Union Government also appointed MD and CEO of other three PSBs who are serving government officials. They are

  • MO Rego: MD and CEO of Bank of India (BoI).
  • Kishore Kharat Piraji: MD and CEO IDBI Bank.
  • Usha Ananthasubramanian: MD and CEO of Punjab National Bank (PNB).

Union government appointment non-executive chairman for 5 PSUs namely Bank of India, Canara Bank, Bank of Baroda, Indian Bank and Vijaya Bank.

It should be noted that these appointments were made by Union Finance Ministry as part seven pronged plan called Indradhanush Mission to revamp functioning of PSBs.

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Categories: Banking Current Affairs 2017

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