Government appoints M K Jain, S Patel and R K Takkar to head PSU banks

MUMBAI: The government has appointed MD & CEO of Indian Bank, Andhra Bank and UCO Bank where the top post have been vacant for several months. M K Jain, executive director of Indian Bank is elevated to the MD and CEO post of the same bank. Suresh Patel, executive director of Oriental Bank of Commerce will head Andhra Bank while R K Takkar, executive director of Dena Bank will be heading UCO Bank.

J K Garg, executive director of UCO Bank will take charge of Corporation Bank after its chairman and managing director S R Bansal retires in January 2016.

The government had interviewed 12 candidates (executive director) for four PSU banks- Indian Bank, Andhra Bank, UCO Bank and Corporation Bank. Last year government had split the post of CMD for state run banks to MD & CEO. With these appointments, the top slot MD and CEO – of PSU banks is filled. However, many of the banks have just one or two executive directors. All PSU banks are entitled for alteast two executive directors while the big banks are entitled for three executive directors.