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A total of around 94 senior bank officers have applied for six vacant posts of Executive Directors (EDs) in India’s public sector banks (PSBs). According to a senior government official, the interviews are expected to take place by the end of June 2025, and they will be conducted by the Financial Services Institutions Bureau (FSIB), the body responsible for selecting top bank officials.
Why Are These Posts Vacant?
These ED vacancies have come up due to recent appointments to higher positions like Managing Directors (MDs) and Chief Executive Officers (CEOs). Once a person is promoted to MD or CEO, their earlier post as ED becomes vacant. Also, a few current EDs are set to retire later this year, adding to the number of openings.
Who Has Applied?
The candidates who have applied for the ED positions include General Managers (GMs) and Chief General Managers (CGMs) from various public sector banks. These are senior officials who have long experience in bank operations and are eligible to be promoted to the position of ED.
India currently has 12 public sector banks, including:
- State Bank of India
- Punjab National Bank
- Bank of Baroda
- Canara Bank
- Union Bank of India
- Indian Bank
- Bank of India
- Bank of Maharashtra
- Central Bank of India
- Indian Overseas Bank
- UCO Bank
- Punjab & Sind Bank
Recent Appointments by FSIB
Just last month, FSIB recommended Asheesh Pandey for the role of MD and CEO of Union Bank of India, and Kalyan Kumar for the position of MD and CEO of Central Bank of India. These appointments triggered movement in top-level positions, leading to further ED-level vacancies.
Upcoming Retirements of EDs
Several Executive Directors are expected to complete their service by the end of 2025:
- Joydeep Dutta Roy – ED at Indian Overseas Bank (retiring in October)
- M. Paramasivam – ED at Punjab National Bank (retiring in November)
- Ramasubramanian S. – ED at Union Bank of India
- Lalit Tyagi – ED at Bank of Baroda
- Malladi Venkat Murali Krishna and Vivek Wahi – both EDs at Central Bank of India
These retirements are expected to create more vacancies, and will likely influence who gets selected in the upcoming round of ED appointments.
How the Appointment Process Works
The FSIB selects and recommends suitable candidates for ED posts. These recommendations are then sent to the Department of Financial Services under the Ministry of Finance. After that, the names are forwarded to the Appointments Committee of the Cabinet (ACC), which is chaired by Prime Minister Narendra Modi. Once the ACC approves the appointments, the Department of Personnel and Training (DoPT) formally announces the selected candidates.
Previous Selection Round
In 2024, FSIB recommended the promotion of five CGMs to the post of ED in different banks. Recently, between June 13 and June 17, 2025, the FSIB interviewed 57 candidates to identify suitable individuals for the new round of ED appointments.
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