DFS defers interviews to appoint PSB chiefs

The department was scheduled to hold interviews of executive directors for the post of MDs and CEOs of at least two banks – Bank of Maharashtra and Indian Bank.

“The interviews have been deferred due to upcoming general elections,” a senior bank official told FE. “The interviews were for the position of MD and CEO of Indian Bank and Bank of Maharashtra.”

The top position at Bank of Maharashtra fell vacant after AS Rajeev, who was appointed MD and CEO in 2018, left the bank to join the Central Vigilance Commission as the vigilance commissioner in February.

New dates of interviews are yet to be communicated, but bankers say it is likely to be conducted after three months. “The interviews will now be conducted after three months,” another bank official said.

All the candidates, who are currently serving as executive directors of public sector banks, have been informed about this new development, he added.

The tenure of Shanti Lal Jain as the MD and CEO of Indian Bank is set to end in August this year. He was appointed as the chief of the bank in August 2021.

According to a source in the Indian Banks’ Association, while the process of inviting applications for the post of MD and CEO of Bank of Maharashtra and Indian Bank has already started, interviews for the positions are yet to happen. “It is unclear when the interviews will be held, but the process of calling applications has happened,” he said.

According to sources, Nidhu Saxena, the current ED of Union Bank of India, is the front-runner for the top post at Bank of Maharashtra. Saxena was earlier shortlisted for the post MD and CEO of UCO Bank. However, Ashwani Kumar was appointed the chief of the lender.