Mangaluru, March 6:
The All-India Bank Officers’ Confederation (AIBOC) has opposed the recruitment of Managing Directors (MDs) and Chief Executive Officers (CEOs) for public sector banks from the private sector.
DN Prakash, Vice-President of AIBOC and President of Corporation Bank Officers’ Organisation (CBOO), said that the eligibility norms for the appointment of MDs and CEOs in public sector banks prescribe that the candidates should have a minimum of 15 years of experience in mainstream banking with at least three years at board level. The norms also prescribe the age of the candidates between 45 and 55 years.
The Union Finance Ministry has sought applications from the eligible candidates for the posts of MD and CEO in public sector banks such as Bank of Baroda, Bank of India, Canara Bank, IDBI Bank and Punjab National Bank, he said.
“AIBOC is of the view that the eligibility criteria is prescribed in such a way that no Executive Director (ED) or CMD will be eligible to apply for the post as most of the present EDs and CMDs are above 55 years of age,” he said.
By prescribing such a criterion, AIBOC feels that the candidates from private sector, who come from different institutional culture, are being favoured while the EDs who had served different public sector banks for more than three decades are branded as incompetent to appear for the selection process, Prakash said.