Banks Board Bureau (BBB) on Wednesday recommended Atul Kumar Goel’s name as the Managing Director of Punjab National Bank.
As of now, Goel heads Kolkata-based UCO Bank, which was removed from Prompt Corrective Action (PCA) by the Reserve Bank of India, recently.
If positioned, he will be succeeding SS Mallikarjuna Rao, who was recently given an extension till January 2022.
BBB, the appointed agency for state-owned banks and financial institutions, interviewed 11 candidates for the post of MD and CEO of PNB – the country’s second-largest public sector lender.
“Keeping in view their performance at the interface, their overall experience and the extant parameters, the Bureau recommends Atul Kumar Goel for the position of MD and CEO of PNB,” said BBB said in a statement.
The incoming managing director and chief executive will be holding office for a tenure of three years from the date of entering office.
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The secretary of the Department of Financial Services, secretary of Department of Public Enterprises and the RBI deputy governor in charge of banking are associated with BBB.
Other part-time members are Vedika Bhandarkar, former managing director of Credit Suisse; P Pradeep Kumar, former managing director of SBI; and Pradip P Shah, founder managing director of rating agency Crisil.
The government approved the formation of BBB in 2016.