The Appointments Committee of the Cabinet (ACC) has approved an extension of Punjab National Bank's Managing Director and Chief Executive Officer,. Ch. S. S Mallikarjuna Rao's term appointment till the date of his superannuation i.e. January 31, 2022.
Rao was due for retirement on September 18 this year.
The government on October 1, 2019, appointed Ch. S. S Mallikarjuna Rao as the MD and CEO of Punjab National Bank.
Prior to his appointment as the MD and CEO of Punjab National Bank, Rao was the Managing Director and Chief Executive Officer in Allahabad Bank.
Meanwhile, the Appointments Committee also announced the extension of tenure of other Executive Directors, CEOs, and MDs in public sector banks.
The government has also extended the term of office of UCO Bank's MD and CEO, Atul Kumar for two years. Kumar was to retire on November 1, 2021.
The tenure of A. S. Rajeev, MD and CEO of Bank of Maharashtra has also been extended for a period of 2 years. Rajeev was due for retirement on December 1, 2021.The Appointments Committee of the Cabinet has also extended the tenure of Executive Director's of Bank of Baroda, Punjab National Bank, Union Bank of India, Canara Bank, Bank of India, Central Bank of India and Indian Bank.