Bank officers' association seeks fixed tenure for CMDs/EDs of public sector banks-Times of India-16.03.2014
MANGALORE: All India Bank Officers' Confederation (AIBOC) at its 10th triennial conference that concluded at Thiruvananthapuram recently has demanded a minimum tenure of five years for chairmen and managing directors and executive directors in public sector banks. The confederation sought a transparent selection process, the norms of which should be published in the website of the union ministry of finance.
The list of candidates finally selected in the process, according to their rank, too should be published on ministry's website, DN Prakash, vice-president of AIBOC said. Public sector banks are the arteries of Indian economic system and are managed by board of directors led by the chairmen and managing directors, whose role is very important in the functioning and policy making of the banks. They should get a fixed tenure, he said.
Observing that CMDs and EDs posted to PSBs of late are with less than two years of service, Prakash said a CMD with short tenure can not envisage a vision and implement it. The short tenure has also adversely affected the health of PSBs in a number of cases, he noted. The situation can be effectively remedied only by putting in place a fair and transparent process of selection of candidates to these posts and ministry should act on it, he noted.
Incidentally, Prakash, also president of Corporation Bank Officers' Organisation (CBOO) was elected vice-president of the Federation at the triennial conference. AIBOC, Prakash said is the largest body of officers' union in the banking industry and the triennial was a three-day affair held in the capital city of Kerala. Ekanath Baliga, general secretary of CBOO too was elected joint general secretary of AIBOC for the triennial period 2014-17.
http://timesofindia.indiatimes.com/business/india-business/Bank-officers-association-seeks-fixed-tenure-for-CMDs/EDs-of-public-sector-banks/articleshow/32143131.cms
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