The Banks Board Bureau has recommended three names for the position of managing director and chief executive officer at three public sector banks namely BoB, Canara Bank and BoI. They are Sanjeev Chadha for Bank of Baroda (BoB), L.V. Prabhakar for Canara Bank and Atanu Kumar Das for Bank of India (BoI).
The Banks Board Bureau is an autonomous body formed under the government of India, responsible with improving corporate governance pertaining to the public sector banks, strengthening capacities and recommending selection of chiefs at the PSU banks. The Union finance ministry will now take the final call on the appointments in consultation with the Prime Minister’s Office.
As per the announcement made by the finance minister Nirmala Sitharaman on 30 August, the centre will amalgamate Syndicate Bank with Canara Bank. In 2018, the centre had okayed the merger of Vijaya Bank and Dena Bank with BoB that came into effect in April 1 this year.
P.S. Jayakumar named as the BoB’s MD & CEO with effect from 12 October, 2019 upon expiry of his term.