Private Bankers to be Interviewed for Top Jobs at 5 PSU Lenders: Report

New Delhi: In a first for India's public sector banks, candidates from private sector banks have been shortlisted for next week's interviews for the post of CEO and managing director at five large banks including Punjab National Bank (PNB), Bank of Baroda and Canara Bank.

As many as 26 candidates are to appear for the interview on June 15 and 16, sources said.

A high-level search panel headed by Reserve Bank of India Governor Raghuram Rajan will interview the candidates, they said.

Among the 26 candidates, about 7 existing executive directors of the various public sector banks have been shortlisted for the interview.

Besides, executives from private sector banks would appear for the interview. This is the first time when executives from private sector banks would be part of the selection process for top jobs in PSU banks.

The department of financial services had sought applications for the post for MD and CEO in Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank and IDBI Bank for a fixed term of three years.

However, it did not find adequate number of candidates as per the eligibility criteria. So, it relaxed the norms in April.

While the age limit was increased to 57 years, from 55 years earlier, the mandatory board-level experience for the applicants were reduced to one year from three years previously to invite more experienced talent for heading large public sector banks.

Apart from the banking sector, after the new government assumed power at the Centre last year, the Coal Ministry had invited applications from the private sector for the post of CMD in Coal India. But it got no application from private sector executives.

Besides, a vacancy in the Indian Bank has come up due to movement of its MD and CEO as vigilance commissioner. In addition to this, the CEO post is also vacant in Andhra Bank.

In December, the government had appointed managing director and CEOs in four state-owned banks - Indian Overseas Bank, Oriental Bank of Commerce, United Bank of India and Vijaya Bank.

Last month, Syndicate Bank's managing director and CEO was appointed.