The Bank Board Office (BBB), on June 16, requested applications for the position of the Director General (MD) and Executive Director (CEO) of the Punjab National Bank (GNP). The current term of Chief SS Mallikarjuna Rao is scheduled to end September 18.
“Banks Board Bureau invites requests for qualified candidates for the position of Director Director and Executive Director (MD & CEO) of the Punjab National Bank (GNP) full-time,” BBB said in a public notice.
The applicant must be in the age group from 45 to 57 years old as of September 19. They must have a minimum experience of 15 years in general banking, of which at least one year must be at the meeting level as of September 19, 2021, the notice said.
“The MD & CEO will celebrate the office for a period of three years from the date on which he enters the office as an MD & CEOsUpject at the age of retirement as 60 years,” BBB said. The remuneration will be in line with the compensation of MD and CEOs of the large banks of the public sector and, as the competent authorities can be approved.
GNB is the second largest bank in India in terms of assets. After the Eastern Bank of Commerce and United Bank of India amalgam, the lender has a network of more than 10,760 branches, 1,03 Lakh employees and global businesses worth RS 18.46 Lakh Crore, BBB said.
The call for applications effectively launches the field open to the bankers of the private sector to request the position. The last private banker to direct a bank of the public sector was PS Jayakumar, who was MD & CEO at the Baroda Bank for four years between 2015 and 2019.
The BBB is responsible for recommending senior staff for appointments to public sector banking councils, state financial institutions and insurance companies.
The body also suggests measures to improve corporate governance in these institutions.
