New Delhi: The central government has nominated seven directors to the boards of various public sector banks (PSBs). These directors are commonly referred to as RBI directors since they are generally Reserve Bank Of India (RBI) officials. The nomination of these directors has been carried out under the Banking Companies ( Acquisition and Transfer of Undertakings) Act 1970, by the Central Government on the recommendation of the Reserve Bank of India (RBI).
These directors are generally known as ‘RBI directors’ as they are mostly officials of RBI, with expertise in banking regulations and supervision, appointed under Section 9 (3) (c) of the law.
Following are the new names
The nominated directors are:
R Kesavan in Canara Bank (in place of Ms Uma Shankar),
S.C.Murmu in Bank of India (in place of R Sebastian),
Arun Kumar Singh in Union Bank of India (in place of A.K.Misra),
Thomas Mathew in Central Bank of India (in place of Sekhar Bhatnagar),
G.P.Borah in Syndicate Bank (in place of R N Kar),
S K Panigrahy in Indian Bank (in place of J K Dash), and
Sadhana Varma in United Bank of India (in place of Arnab Roy).
(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)