FSIB calls application for Canara Bank’s MD & CEO post

Canara Bank

Financial Services Institutions Bureau (FSIB) has invited application for the position of managing director and chief executive officer for Canara Bank. Candidates from both private and public sectors banks can apply for the position by November 20, FSIB notification said.

The notification comes as current MD & CEO K Satyanarayana Raju retires in December. Applications have been called to ensure a smooth transition at the Bengaluru headquartered state-owned bank.

Private sector applicants must have a minimum of 21 years of experience, with at least 15 years of banking experience, two years at the bank board level or at least 3 years at the highest level below bank board level (to be held on substantive basis), it said.

PSU bank applicants must have a minimum 21 years of experience in banking and as deputy managing directors (DMDs) of the State Bank of India (SBI) with at least a year of service in the position or executive directors (EDs) of nationalised banks with at least a year of service as ED or MD & CEO of a nationalised bank having served a year as MD & CEO in the present posting and having residual service of two years (60 years as the date of superannuation), and Chief Vigilance Officer (CVO) of Public Sector Bank except CVO of Canara Bank, notification said.

PSU officers with two or more major penalties are barred from applying for the position.

Canara Bank’s MD & CEO post comes with a pay scale of Rs 2,05,400–2,24,400 (level 16) and includes all allowances applicable to PSU bank chiefs.

The MD and CEO is responsible for setting the vision, mission, and values in consultation with Board of Directors, set strategy and structure, monitor and control, and exercise accountability to shareholders and responsibility towards the stakeholders.