February 26, 2015 9:03 PM

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RBI expresses concern over delay in appointing heads of banks

Expressing concern over the delay in appointing heads of three large public sector lenders, RBI Deputy Governor S S Mundra today said that the Central bank has urged the government to expedite the process in this regard. Mr. Mundra said that the government is yet to appoint heads of three 'A' category banks, namely Bank of Baroda, Punjab National Bank and Canara Bank that have been headless for many months now. He stated that leadership matters in banking organizations for policy direction. Mundra said that the central bank has also asked the government to take a decision soon about appointing heads of these three large banks. Last December, the government had split the post of chairman and managing director for state-run banks and appointed managing directors as well as chief executives at banks.

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