No more hiring from private sector for PSB top jobs: Finance Ministry

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appointmentNow, there will not be any hiring from private sector for PSB top jobs. “Hiring of CEO and Managing Directors in public sector banks (PSBs) would be from the public sector talent pool,” the Finance Ministry said.

In a first, the government recently appointed private sector professionals to run two of its largest banks – Bank of Baroda and Canara Bank.

PS Jayakumar, Managing Director and CEO, VBHC Value Homes Pvt Ltd was appointed to head Bank of Baroda, while MD and CEO of private sector lender Laxmi Vilas Bank.

Now, the government is going to hire from the pool of executive directors of the public sector banks itself,” Hasmukh Aadhia, Financial Services Secretary, said.

According to report, there is a CEO and MD vacancy in Indian Bank and Andhra Bank. Also, there would be another vacancy in UCO by the end of this month.

The government reportedly will start the selection procedure soon.

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