India Post Payments
Bank, which is in a hurry to appoint a head, could get its first chief
executive officer from the country’s largest lender State Bank of India (SBI).
The bank’s board
comprising the CEO, chairperson, besides government nominees and five
independent directors is expected to be in place by September.
India Post had written
to top five government banks including SBI, Punjab National Bank and Bank of
Baroda among others in identifying the chief.
Sources said that SBI
chairman Arundhati Bhattacharya has already responded and proposed a name.
However, at a later stage, the payments bank is likely to have a search and
select committee in place for the appointment of a CEO.
“We are in a hurry to
put everything in place as soon as possible, we sought suggestions from the top
public sector banks to help us in finding a CEO,” SK Sinha, secretary,
department of post, told HT.
The government set
aside an initial corpus of Rs. 800 crore for
the bank. While the bank will roll out 650 bank branches by September 2017, it
will also use the 154,000 existing post offices to sell a host of its products
and the new bank could hire about 2,000 people.
Source: HT
