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DFS postpones interview for appointment of MD and CEO in Govt Banks


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The wait for the appointment of managing directors and chief executives in certain public sector banks is expected to be extended. The Department of Financial Services (DFS) has decided to postpone the interviews for executive directors vying for the positions of MDs and CEOs in public sector banks, including Bank of Maharashtra and Indian Bank.

A senior bank official informed Financial Express that the interviews have been deferred due to the upcoming general elections. The interviews were specifically for the MD and CEO roles at Indian Bank and Bank of Maharashtra.

The position of MD and CEO at Bank of Maharashtra became vacant when AS Rajeev, who had been appointed to the role in 2018, left the bank in February to join the Central Vigilance Commission as a vigilance commissioner.

Although the new interview dates have not been announced yet, bankers anticipate that they will take place after a three-month period. “The interviews will now be conducted after three months,” stated another bank official.

All candidates currently serving as executive directors in public sector banks have been notified about this development.

The tenure of Shanti Lal Jain, the current MD and CEO of Indian Bank, is set to end in August of this year. Jain was appointed as the bank’s chief in August 2021.

According to an unnamed source in the Indian Banks’ Association, the application process for the MD and CEO positions at Bank of Maharashtra and Indian Bank has already commenced, but the interviews are yet to be scheduled. “It is unclear when the interviews will be held, but the application process has begun,” the source revealed.

Sources suggest that Nidhu Saxena, the current ED of Union Bank of India, is the leading candidate for the top position at Bank of Maharashtra. Saxena was previously shortlisted for the role of MD and CEO at UCO Bank, but ultimately, Ashwani Kumar was appointed as the bank’s chief.

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