Banks Board Bureau, the autonomous body tasked with improving governance of public sector banks, has recommended five current executive directors of public sector banks for the upcoming vacancies of Managing Director and Chief Executive Officer in the next financial year.
These executive directors are Sunil Mehta, Enforcement Directorate at Corporation Bank; Dina Bandhu Mohapatra from Canara Bank; Rajkiran Rai G from Oriental Bank of Commerce; RA Sankara Narayanan from Bank of India, and R Subramaniakumar from Indian Overseas Bank.
The Banks Board Bureau recommends the selection of chiefs of government-owned banks and financial institutions and to help banks in developing strategies and capital raising plans.
Chairman Vinod Rai, former Comptroller and Auditor General of India, and members of the BBB have made the recommendations based on interactions held with eligible candidates from public sector banks, the BBB said on its website.
The government will take a final call on the appointments.
On Thursday, Rai told a gathering that the government is keen on bank consolidation, but not before building a strong balance sheet by addressing the bad debt problem, and in that case a merger may happen first between two large banks.
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