Top positions at public sector banks remain headless owing to strict appointment process

NEW DELHI: The appointment of fulltime chairmen at some of the state-run banks is likely to be delayed further as the government is yet to receive vigilance clearances on the names shortlisted for the posts, a finance ministry official said.

While Bank Of BarodaBSE -1.82 %, United Bank of India and Indian Overseas Bankhave been headless for months, Syndicate Bank joined this group on Tuesday when its chairman and managing director Sudhir Kumar Jain was removed from office for his alle ..

"We are yet to receive clearances from the vigilance agencies, including the Central Vigilance Commission (CVC).

Given the recent incidents, we expect some more delay," the finance ministry official quoted earlier said, referring to an investigation in the appointment of Jain at Syndicate Bank. Jain was arrested by the Central Bureau of Investigation (CBI) for allegedly accepting bribes of .Rs 50 lakh to enhance the credit limit of some companies.

CBI Director Ranjit Sinha had ..

A senior official involved with the selection process questioned the whole premise of appointments under review.

"The allegation that a particular candidate was favoured does not hold any water. The selection committee had RBI representatives and independent experts. So, we are effectively questioning the competence of all those on the interview board," he said.

Anand maurya

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