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The eligibility criteria set out by the Centre in its advertisement inviting applications for the post of Managing Director and Chief Executive Officer in five big public sector banks has not gone down well with trade unions.
Instead of promoting experienced talent that is already there in the public sector banks, the Government seems to be chasing rainbows by seeking to induct talent from outside the public sector space, they say.
According to S Nagarajan, General Secretary, All-India Bank Officers’ Association, the advertisement undermines the morale of senior public sector bank officers, who have put in 25-30 years to build the business. As per the eligibility criteria in the advertisement, a person applying for the top post should have at least 15 years’ experience in mainstream banking, of which, at least three years should be at the Board level. Further, the candidate should be in the age group of 45-55 years.
Privatisation move Referring to the eligibility criteria, Nagarajan observed that this clearly shows that it has been arrived at with a view to induct only candidates from private sector to head public sector banks. This is a clear indication that the Government is moving towards privatisation of public sector banks.
“The Government cannot para-drop candidates from the private sector to steer the affairs of public sector banks. Given that these candidates will neither be familiar with the working nor the culture of these banks, it will be a recipe for disaster,” said Nagarajan.
The Centre is proposing to fill up MD and CEO posts in Bank of Baroda, Bank of India, Canara Bank, IDBI Bank Ltd. and Punjab National Bank.
The salary package payable to the appointees will be flexible.
“First the Government chokes off capital infusion to more than half of the public sector banks… Now, it comes up with new criteria for appointment of the MD & CEO. These moves show that the Government is trying to privatise public sector banks,” Harvinder Singh, General Secretary, All-India Bank Officers’ Confederation, said.
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