Appointments Committee of Cabinet Approves Criterion and Method of Selection of Managing Director and Chief Executive Officers in five Public Sector Banks; Guidelines Envisage both Governmental and Non-Governmental Candidates can Apply Who Have at Least 15 Years of Mainstream Banking Experience

Appointments Committee of Cabinet (ACC) has approved the criterion and method of selection of Managing Director and Chief Executive Officers in Five Public Sector Banks viz. Bank of Baroda, Punjab National Bank, Bank of India, Canara Bank and IDBI Bank.

 The guidelines envisage that both Governmental and Non-Governmental candidates can apply. The candidate should have at least 15 years of mainstream banking experience, of which three years should at least be at the Board level. The candidate should be in the age group of 45 to 55 years and will have a fixed tenure of three years, subject to normal age of superannuation of 60 years.

 The details in this regard are available on the web site www.financialservices.gov.in