Most of the major public and private sector banks will have CEO’s in 2024. At least eight banks, including Axis Bank, DCB Bank, Federal Bank, Punjab National Bank (PNB), Indian Bank, IDFC First Bank, J&K Bank and Bank of Maharashtra (BoM), may see changes at the top post.
In Axis Bank, the tenure of Amitabh Chaudhry, the current Chief Executive Officer (CEO) will end on December 31, 2024. The same is the case with Atul Goel of Punjab National Bank (PNB). There is no update on the selection process of the new MD & CEO of Axis and PNB bank yet. Shyam Srinivasan, Managing Director (MD) and CEO of Federal Bank will see his tenure ending on September 22, 2024.
However, there is no recent update available from the bank’s side on the new MD’s selection.
For DCB Bank, the search for the new CEO is on as the bank’s board has short-listed names for the position of MD and CEO and will soon submit the list to the Reserve Bank of India (RBI) for approval.
V Vaidyanathan, who took over as the MD & CEO of IDFC First Bank in December 2018 after the Capital First and IDFC Bank merger, will see his current tenure ending on December 19, 2024.
Shanti Lal Jain , MD and CEO of Indian Bank. His current tenure as the MD and CEO of the bank is set to end on August 1, 2024.
Bank of Maharashtra (BoM), MD and CEO, A S Rajeev tenure was to end in 2023.He received a-six month extension from the government in November 2023. Rajeev’s tenure is set to end in April 2024.
Tenure of Baldev Prakash, who is the MD and CEO of J&K Bank will end on December 31, 2024. Prakash was appointed on December 30, 2021.
In 2023, banks have struggled to cope with the challenge of staff shortage. According to the data given by the government in the Parliament; a total of 1,23,781 employees have been recruited between FY 2019-20 and 2022-23. Of this, 14,106 were recruited in 2021-22 and 14,517 in 2022-23.
Governments claim based on individual bank management’s reporting is far from the truth. For a decade or so banks are not filling in vacancies even arising on account of death, retirement, promotion or resignation, leave alone on account of an increase in branch network or business. The entire part time sub staff jobs are outsourced.
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