Home BusinessGovt appoints 7 bank executive directors
After sitting over the proposal for several months, the government has finally appointed seven executive directors (EDs) in as many banks.
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NS Sainath, who was a general manager at Canara Bank, has been promoted as the new ED of Bank of Baroda (BoB). Sainath will hold this position till May 2012. One of the ED’s post at BoB fell vacant after the retirement of V Santhanaraman in August.
BoB’s General Manager D Sarkar has also been promoted as an ED of Kolkata-based Allahabad Bank. Sarkar will serve till November 30, 2013. The post was vacant since the retirement of KK Agarwal. Allahabad Bank, like BoB, is eligible for two EDs as it has a total business of over Rs 1,00,000 crore. The second ED"s post in the Kolkata-based bank is also vacant now as JP Dua was promoted as the chairman of the bank last week.
For the first time, a second ED’s post was created at Corporation Bank and Andhra Bank. The government has appointed Narendra Singh, a general manager at Allahabad Bank, as Corporation Bank’s ED till September 2013, while AA Taj of Union Bank will be the second ED at Andhra Bank. His term ends in August 2012.
V Ram Gopal, general manager of Andhra Bank, has been appointed as an ED of Chennai-based Indian Bank till December 2011.
Another Chennai-based lender, Indian Overseas Bank, also got a second ED. Nupur Mitra, who was a general manager of Bank of India, took charge last night.
Allahabad Bank’s PK Anand has also been promoted as an ED of Delhi-based Punjab & Sind Bank. The post fell vacant after GS Vedi was promoted as the bank’s chairman.