Getting the right PSB heads

Abstract

In an environment of global competition, the selection process should be opened up to willing senior officials from private and foreign banks The government has initiated measures to select and appoint chairpersons of 8 public sector banks (PSBs), according to press reports, after cancelling the earlier list of short-listed candidates. The issue was recently examined by a well-represented committee chaired by P J Nayak. The committee observed that the process of selecting the top management of banks, including the chairperson needs to be professionalised. According to the committee report, at present, the department of financial services (DFS) in the finance ministry prepares a short list of candidates who are interviewed, sometimes, for less than five minutes by a selection sub-committee consisting of the secretary, DFS, and the deputy governor of RBI. Read more at: https://www.financialexpress.com/opinion/getting-the-right-psb-heads/10366/