Based on the recommendations of Appointments Board chaired by the Governor, the Reserve Bank of India (RBI), the Department of Financial Services (DFS), Ministry of Finance, Government of India announced the appointment of MD & CEO of four Nationalised Banks. The appointments announced are as follows:-

The appointment of the above MD & CEOs is for a period of three years or till the date of superannuation, whichever is earlier.

In a significant departure from the past practice, the Government of India has decided to now separate the post of Chairman and MD & CEO. 

Henceforward, in the new appointments of PSBs other than SBI, the Chairman will be a part time Board Member who would preside over the Board Meetings and will not be an Executive Chairman.  The procedure for selection of part time Chairman would be announced shortly.

The appointment in one more bank i.e. Syndicate bank is still under consideration of Government and it would be decided very shortly.

For three `A’ Category Large Banks, i.e. Bank of Baroda, Punjab National Bank and Canara Bank, the Government has decided to go for a fresh selection procedure with a view to widen the search of candidates.  The procedure for this would be announced shortly.