The Banks Board Bureau (BBB) has invited applications for the post of Managing Director and Chief Executive Officer (MD and CEO) in two major public sector banks, Punjab National Bank and Bank of India. The post of MD and CEO in PNB will fall vacant after incumbent Sunil Mehta superannuates on September 30. The post in Bank of India is lying vacant since July 1 after Dinbandhu Mohapatra retired.
The top post in another major state-run lender Bank of Baroda will fall vacant in October when the extended term of the bank's CEO and MD P S Jaikumar will end. However, the BBB has not included the vacancy in its latest selection process.
As per the BBB's recruitment notice, candidates can apply for the vacancies at PNB and BOI till September 16.
The appointments will be for three years.
"To help assess the leadership competencies and potential capabilities of shortlisted candidates an advisory firm may assist the Banks Board Bureau.
"The advisory firm will have no role in shortlisting. Shortlisted applicants will appear for interactions with the Bureau," the notice said.
Based on the interactions, the BBB said it will send its recommendation to the government.
PNB was hit by a massive fraud amounting to about Rs 14,000 crore after it came to light that jewellery designer Nirav Modi and his uncle Mehul Choksi fraudulently siphoned off the money in connivance with of some officials of the bank.
BoI was in the Prompt Corrective Action framework, but the RBI lifted the curbs in January this year after it met the regulatory norms including Capital Conservation Buffer (CCB) and net NPAs of less than 6 per cent as per third-quarter results.