Government Approves Guidelines for Selection of MD & CEOs in Public Sector Banks (PSBS) Other Than Five Large Public Sector Banks

Appointments Committee of Cabinet (ACC) has approved the guidelines for selection of MD & CEOs in Public Sector Banks (PSBs) other than five large Public Sector Banks. Executive Directors of Nationalised Banks, DMDs of IDBI Bank and MDs of Associate Banks of SBI who have risen from the Associate Bank Services, with one year of service as ED/DMD/MD and who have two years remaining service are eligible to consideration as MD & CEO. The selection will be made by the Appointments Board as per the existing methodology of interaction of the candidates with three panels of the Sub-committee of the Appointments Board. The candidates will be rated out of 100 marks with 50 marks to be awarded for APARs of five years and 50 marks assigned on the basis of performance during interaction with the Sub-committee. The guidelines has also laid down the eligibility criteria for the post of Executive Directors of the nationalized banks. General Managers of nationalized Banks and CGMs of Associate Banks of SBI who have risen from the Associate Banks Service, and who have completed two years of service are eligible for consideration for the post of Executive Director.

 The selection process is to be initiated in the next month.