Ten part-time Non-Official Directors (NODs) have been appointed by the government on the board of various public sector banks. Of them, Girish Kumar Ahuja and Pushpendra Rai have been appointed NODs in State Bank of India, Amit Chatterjee and G Gopalkrishna in Dena Bank, Archana Ravindrarai Dholakia in Bank of Maharashtra, V V R Sastry and M Bhagavantha Rao in Vijaya Bank.
Prof Radha R Sharma has been appointed as NOD in Allahabad Bank, Satyanarayana Dash in National Bank for Agriculture and Rural Development (NABARD) and Atanu Sen in Punjab and Sind Bank. The Appointments Committee of the Cabinet has approved the proposal of the Department of Financial Services for the appointment of NODs. They have been appointed for three years.
Did You Know???
- Public Sector Banks (PSBs) are banks where a majority stake (i.e. more than 50%) is held by a government.
- The shares of these banks are listed on stock exchanges. There are a total of 27 PSBs in India [19 Nationalised banks + 6 State bank group (SBI + 5 associates)+IDBI+BMB ].
- In 2011 IDBI bank and in 2014 Bharatiya Mahila Bank were nationalized with a minimum capital of Rs 500 cr.
- The Central Government entered the banking business with the nationalization of the Imperial Bank Of India in 1955.