SBI MD, PSU banks’ ED positions for private sector candidates!

Efficiency, governance and public-friendly policies matter the most

- Business Desk

In a surprising move, the government has opened senior management positions in public sector banks (PSBs), including the country’s largest lender State Bank of India (SBI), to private sector candidates.

Out of four positions of Managing Director in SBI, one position has been opened for private sector candidates and persons working in public sector financial institutions, PTI reported.

So far, all MD and chairman positions have been filled by internal candidates. As per the revised appointment guidelines, one MD position will now be available to the private sector. Similarly, the revised guide-

lines also permitted private sector candidates to appear for the selection process of executive director (ED) in PSBs.

Besides SBI, there are 11 public sector banks, including Punjab National Bank, Bank of Baroda, Canara Bank, Union Bank of India and Bank of India.