The Ministry of Finance has acknowledged vacancies in the Board of Directors of various public sector banks (PSBs) and assured that steps are being taken to fill them. On Monday, March 17, Minister of State for Finance Pankaj Chaudhary confirmed that appointing directors to PSB boards, including the Bank of Maharashtra, is a routine process.
Regular Monitoring of Vacancies
According to a statement from the Finance Ministry, public sector banks regularly report vacancies and operational issues to their respective Boards of Directors. The government, in turn, takes necessary steps to fill these vacancies as soon as possible.
At present, the position of Chairman of the State Bank of India (SBI) and all Managing Director and Chief Executive Officer (MD & CEO) positions in nationalized banks are filled. The ministry also clarified that there is no ongoing proposal to merge other PSBs with SBI.
Vacancies in Public Sector Banks
The Finance Ministry also provided a detailed breakdown of the number of directors and vacancies in each public sector bank:
- Bank of Baroda – 16 Directors, 6 vacancies
- Bank of India – 16 Directors, 5 vacancies
- Bank of Maharashtra – 14 Directors, 8 vacancies
- Canara Bank – 16 Directors, 5 vacancies
- Central Bank of India – 15 Directors, 7 vacancies
- Indian Bank – 16 Directors, 7 vacancies
- Indian Overseas Bank – 14 Directors, 7 vacancies
- Punjab & Sind Bank – 14 Directors, 8 vacancies
- Punjab National Bank – 16 Directors, 7 vacancies
- UCO Bank – 14 Directors, 6 vacancies
- Union Bank of India – 16 Directors, 5 vacancies
- State Bank of India – 19 Directors, 7 vacancies
Response to Parliamentary Inquiry
The Finance Ministry’s statement comes after Revolutionary Socialist Party (RSP) MP N K Premachandran raised concerns in Parliament regarding the vacancies in PSB boards. He questioned whether the government intended to fill these positions and what steps were being taken in this regard.
Premachandran also pointed out that vacancies in the Bank of Maharashtra had not been filled and sought clarity on whether the government was considering merging other PSBs with SBI. In response, the Finance Ministry reiterated that there was no such merger proposal.
The government continues to monitor and address leadership gaps in public sector banks to ensure smooth operations and effective governance.
