Sun, Aug 03, 2025
Centre Begins Headhunting For 7 PSU Bank EDs, 87 CGMs, GMs In Fray
One of the vacancies was created after Union Bank of India ED Pankaj Dwivedi was demoted to his earlier position as Punjab & Sind Bank GM, due to a lack of vigilance clearance, the rest following superannuation or elevation
Jul 28, 2025 · 2 min read
India's Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, on Monday, kicked off the interview process to select seven executive directors (EDs) of public sector banks from 87 shortlisted candidates.
The shortlisted candidates include chief general managers and general managers of public sector banks. Interestingly, for each ED vacancy, there are over 12 candidates in the reckoning.
The four-day interview process begins on Monday and will conclude on August 3. After a round of interviews over Monday and Tuesday, the FSIB will take a pause and restart the interview process on August 2.
The vacancies have been created following completion of terms, or elevation of some EDs, while one was created after the Centre, on June 24, demoted Pankaj Dwivedi, who had been posted as the Union Bank of India ED, to his earlier position as Punjab & Sind Bank GM, due to a lack of vigilance clearance.
Once selected by FSIB, the recommendations would go to the Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi. After ACC approval, the successful candidates would be posted in Punjab National Bank, Bank of Baroda, Union Bank of India, Indian Overseas Bank and Central Bank of India.
How FISB Works
The FSIB is headed by former Department of Personnel and Training (DoPT) Secretary Bhanu Pratap Sharma. The government nominee members in FSIB are the Financial Services Secretary, the Department of Public Enterprises Secretary, and an RBI Deputy Governor.
Other members of the headhunting team are Animesh Chauhan, former Chairman and MD of erstwhile Oriental Bank of Commerce, the RBI's former Executive Director Deepak Singhal, and Shailendra Bhandari, ex-MD of erstwhile ING Vysya Bank.
Earlier this month, the government extended the tenure of the Chairperson and other members of the FSIB. With the extension, the Chairperson and other members will continue to serve the bureau till June 30, 2026.
Loan Write-Offs
Meanwhile, the state-owned lenders have written off loans worth Rs 12.08 lakh crore since 2015-16.
“As per the Reserve Bank of India (RBI) data, public sector banks (PSBs) have written-off an aggregate loan amount of Rs 12,08,828 crore, from the financial year 2015-16 to financial year 2024-25 (provisional data),” Minister of State for Finance Pankaj Chaudhary said in a written reply to Rajya Sabha.
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