Bank Of Baroda Executive Directors To Handle Functions Of MD, CEO
Pedestrians walk past a Bank of Baroda branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

Bank Of Baroda Executive Directors To Handle Functions Of MD, CEO

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Bank of Baroda on Wednesday said financial, administrative and other functions of its Managing Director and Chief Executive Officer is to be looked after by respective executive directors till the appointment of new head.

PS Jayakumar ceased to be the bank's MD and CEO with effect from Oct. 12 upon expiry of his term.

The bank's board of directors and the management committee, as the case may be, may entrust to look after financial and administrative powers and functions of the MD and CEO to respective executive directors till such time appointment to the post of the bank's MD and CEO is made by the government, it said in a regulatory filing.

Also read: Jayakumar’s Term At Bank Of Baroda: The See-Saw Years 

"Accordingly, the board through circulation on Oct. 16, 2019 approved that the financial and administrative powers and functions of the MD and CEO shall be exercised by the respective Executive Directors pertaining to the verticals in which they are in-charge," it said.

The government has already invited application through the Banks Board Bureau to fill the vacancy.

Also, the top posts are vacant at Punjab National Bank, Canara Bank and Bank of India, for which BBB has already invited applications.

Bank of Baroda has currently three executive directors -- Murali Ramaswami, SL Jain and Vikramaditya Singh Khichi.

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