News makers:
29 May 2000
1
In a bid to ensure continuity for a longer term at the country’s largest
commercial bank, State Bank of India, the finance ministry may a person with a relatively
longer term of two years even if that amounts to supersession of some of the senior
executives.
If this idea, mooted by the appointments board goes through, Mr. Janki Ballabh, deputy managing director in charge of international banking, will be made the next chairman when current chairman Mr. G.G. Vaidya retires in October this year after a 19-month stint.
In the process, Mr. Ballabh will end up superseding six senior executives – Mr. S K Mukherjee (managing director), Mr. Vepa Kamesan (managing director), Mr. DP Roy (deputy managing director, associate banks), Mr. Y Radhakrishnan (DMD, corporate development officer), Mr. S Govindarajan (DMD, audit and inspection) and Mr. R Sundaraman (MD, SBI European Bank Ltd).
According to State Bank insiders, it will require a tough decision on the part of the government to see this decision through, since the issue of supersession is an extremely delicate issue and it will be a culture shock for the bank.
If this idea, mooted by the appointments board goes through, Mr. Janki Ballabh, deputy managing director in charge of international banking, will be made the next chairman when current chairman Mr. G.G. Vaidya retires in October this year after a 19-month stint.
In the process, Mr. Ballabh will end up superseding six senior executives – Mr. S K Mukherjee (managing director), Mr. Vepa Kamesan (managing director), Mr. DP Roy (deputy managing director, associate banks), Mr. Y Radhakrishnan (DMD, corporate development officer), Mr. S Govindarajan (DMD, audit and inspection) and Mr. R Sundaraman (MD, SBI European Bank Ltd).
According to State Bank insiders, it will require a tough decision on the part of the government to see this decision through, since the issue of supersession is an extremely delicate issue and it will be a culture shock for the bank.
