CMD News

Bansal took charge of Air India last year

CBI has registered a case against former Chairman-cum-Managing Director of Canara Bank R K Dubey for allegedly allowing deviations in sanctioning credit limits to a company during his tenure as Executive Director at Central Bank of India.

Bifurcation of Chairman and Managing Director's post may not augur well for the public sector banks as it may lead to inefficiencies and bureaucratic hassles rather than improvement, Assocham said in a report.

Bharatiya Mahila Bank will launch nine more branches by this month end to close the fiscal with a network of 60 outlets, a top official said today.

A high-level search panel headed by Reserve Bank Governor Raghuram Rajan has shortlisted 10 Executive Directors for the post of Chairman and Managing Director (CMD) in eight public sector banks.

Government may invite fresh applications for top job at Oil India Ltd after its headhunters PESB did not find any of the six applicants, including the firm's Director (Finance) R S Borah, suitable.

Nineteen candidates will appear before three sub-committees Friday for selection of heads of 8 PSU banks and the applicants include an incumbent CMD.

The Government Monday gave about 10-month extension to Air India chief Rohit Nandan, second time since his appointment to the post.

Finance Ministry Monday said it is considering bifurcation of the post of Chairman and Managing Director in public sector banks to strengthen corporate governance in the light of recent cases of corruption.

The government might also rejig the hierarchy in PSU banks in order to cut down political interference in its working.

CBI Director Ranjit Sinha has ordered an internal inquiry after his team did not arrest Vice Chairman of Bhushan Steel Neeraj Singhal during searches at his residence in the Syndicate Bank bribery case despite his clear instructions to pick him up.