Candidates from Public Sector Banks as well as Private Sector Banks having at least 15 years of mainstream banking experience of which one year at board level within the age group of 45-57 years are eligible to apply for the post.
Babul Supriyo, Minister of State in the Ministry of Heavy Industries and Public Enterprises ( HIPE) gave this information in the Rajya Sabha in reply to a written question on 26 July.
The other criteria for candidates from private sector are same as for the candidates from other categories, viz., CPSEs, State Public Sector Enterprises and Government, he added.
The Minister said, "The Government has approved the guidelines regarding selection of MD & CEO in five Public Sector Banks, viz. Bank of Baroda, Bank of India, Canara Bank, IDBI Bank and Punjab National Bank. After this the Government recently appointed Non-Executive Chairman in the Public Sector Banks, namely, Bank of Baroda, Bank of India, Canara Bank, Indian Bank and Vijaya Bank".
"The post of MD & CEO in these 5 Banks was advertised and 3 candidates from Public Sector Banks and 2 candidates from Private Sector Banks were appointed," said Supriyo.
Giving detailed information about the implementation of the reforms in banking, the Minister said in his reply, that the government has decided to separate the post of Chairman & Managing Director in Chairman (Non-executive) and Managing Director & Chief Executive Officer (MD & CEO).
Presently there are 139 Board level posts lying vacant in various Central Public Sector Enterprises (CPSEs). It includes 46 posts of Chief Executives and 93 posts of Directors, according to the information available with the government.
Out of these 139 posts, 114 posts are vacant for a period less than two years and remaining 25 posts are vacant for more than two years, he said.
Heavy Industries and Public Enterprises Minister cited four reasons for the vacancy in the Board level posts. It included, (i) occurrence of unforeseen vacancies due to resignation/vertical shift or death of an incumbent, (ii) non-availability of suitable candidates, (iii) court cases, and (iv) decision of the administrative Ministry to keep a particular Board level post in abeyance, etc. Saying that filling up of Board level posts in CPSEs is a continuous process, the Minister said, "So far as the posts of Executive Directors in CPSEs are concerned, generally these posts are at below Board level and are filled by the concerned CPSEs themselves".
Appraising the house about the criteria for candidates from private sector to be considered for selection to Board level posts in CPSEs, he said, "The Government has laid down the following criteria for candidates from private sector to be considered for selection to Board level posts in CPSEs".
He informed the house that the average audited annual turnover of three financial years preceeding the calendar year in which the post is advertised shall be considered for applying the approved limits.