Banks Board Bureau recommends names for chiefs of PSU banks

The Banks' Board Bureau (BBB) has shortlisted State Bank of India deputy managing director (DMD) Alok Kumar Choudhary as the replacement for Ashwani Bhatia as managing director at India's largest lender.

Subject to government clearances Choudhary will take charge as one of four MD's in SBI. Bhatia who was slated to retire in May has been appointed as a whole-time member (WTM) of the Securities and Exchange Board of India (SEBI), earlier this month for a period of three years from the date of assumption of charge.

Bhatia has been MD at SBI since August 2020 and is incharge of the corporate banking and global markets division of the bank which includes treasury functions.


Choudhary is currently the deputy managing director incharge of the bank's finances which includes capital raising.
SBI mutual fund CEO Vinay Tonse has been named as the reserve candidate after the BBB interviewed 21 candidates over a period of six days in March.

The BBB also interviewed 15 other candidates from various public sector banks for the positions of CEOs which will fall vacant later this year.

Canara Bank executive director A Manimekhalai has been shortlisted for the position of CEO in Union Bank of India after Rajkiran Rai retires on May 31. Indian Overseas Bank ED Ajay Kumar Srivastava has been recommended to take over as the that bank's CEO after Partha Pratim Sengupta completes his tenure on December 31, 2022.

Punjab national Bank ED Swaroop Kumar Saha has been shortlisted as the preferred candidate for the position of CEO in Punjab & Sind Bank after S Krishnan reites on May 31, 2022.

Canara Bank ED K. Satyanarayana Raju, Union Bank ED Nitesh Ranjan and Bank of Baroda ED Debadatta Chand are the top three in the reserve list.