The government has appointed, P S jayakumar as MD and CEO of Bank of Baroda and Rakesh Sharma as MD and CEO of Canara Bank. This is the first time the government has chosen the two candidates from the private sector to head the Public Sector Banks. The announcements were made along with MD and CEO of Bank of India , IDBI Bank, and Punjab National Bank. The government also announced appointment of Mr Non-executive chairman of 5 banks. Addressing press conference in New Delhi Secretary of Department of Financial Services Hasmukh Adhia said that the selection process for both the positions has been transparent and meritocratic. He said that some vacancies of Non official Directors and non executive chairman of six other PSBs will be completed in the next three months.