New Delhi (26.08.2021): The Appointments Committee of the Cabinet (ACC) on Thursday approved the proposal of the Department of Financial Services (DFS) and extended the tenure of three managing directors and ten chief executive officers (MDs and CEOs) of public sector banks.

The tenure of S S Mallikarjuna Rao, MD and CEO of Punjab National Bank, has been extended until January 31, 2022, when he is due for superannuation. A two-year extension has been approved for Atul Kumar Goel, MD and CEO of UCO Bank up to October 31, 2023. Similarly, two-year extension has been given to A S Rajeev, MD and CEO of Bank of Maharashtra up to November 30, 2023.

The ACC has also approved a two-year extension to Bank of Baroda ED Ajay K Khurana, ED of Canara Bank A Manimekhalai and P R Rajagopal, Bank of India ED. Terms of Sanjay Kumar and Vijay Dube (Punjab National Bank), Gopal Singh Gusain and Manas Ranjan Biswal (Union Bank of India), Vikramaditya Singh Khichi (Bank of Baroda), Shenoy Vishwanath Vittal (Indian Bank), and Alok Srivastava (Central Bank of India) as EDs have been approved for an extension until their age of superannuation.

The DFS, in a letter to DoPT, had also suggested extending the term of Shanti Lal Jain, the former ED of Bank of Baroda for two years. However, earlier this month, Jain was appointed the MD and CEO of Indian Bank for a period of three years.