The Financial Services Institutions Bureau (FSIB) has put forth a recommendation for the appointment of five new Executive Directors (EDs) across several Public Sector Banks for the fiscal year 2024-25. This decision follows a comprehensive selection process conducted from June 13 to June 17, 2024, during which FSIB assessed 57 candidates representing various public sector banks. The evaluation criteria encompassed candidates’ performance in interviews and their extensive professional experience within the banking sector. The recommendations are structured in order of merit, highlighting the top candidates deemed suitable for elevation to the ED role.

Among those recommended are Beena Vaheed of Union Bank of India, Rajeeva and Amit Kumar Srivastava of Punjab National Bank, and S K Majumdar and D Surendran of Canara Bank. These individuals were selected based on their demonstrated competence and leadership potential, reflecting FSIB’s commitment to appointing highly qualified professionals to key positions within public sector banking institutions. The proposed appointments signal FSIB’s strategic approach to strengthening leadership teams across these banks, aiming to enhance operational efficiency and strategic decision-making in the banking sector.

Ultimately, the final approval for these appointments rests with the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi. This committee will review FSIB’s recommendations before making the conclusive decision on the new ED appointments. The process underscores the significance of these roles in shaping the future direction of public sector banks and underscores the rigorous assessment and merit-based selection conducted by FSIB to identify candidates best suited for these critical positions.