36 posts of PSB directors lying vacant: AIBEA

Last Updated: Wed, May 01, 2019 14:49 hrs
File photo of commuters walking past a bank sign along a road in New Delhi

Chennai: Thirty six posts of directors in public sector banks (PSB) haven't been filled for a long time, said a top leader of a major bank union.

According to C.H.Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA), the Bank Nationalisation Act/Banking Companies (Acquisition and Transfer of Undertakings) Act provides for appointment of a workman employee representative and an officer employee representative as directors on the Boards of all the PSBs.

"None of the 18 PSBs have a workmen employee representative and an officer representative as a director on their Boards. In all 36 posts for bank directors are lying vacant for a long time," said Venkatachalam on Wednesday.

He said that there were 18 PSBs each with a Board strength ranging between 7-14 directors, including the Chairman, Managing Director(s), Executive Directors, nominees of the RBI and the Central government.

The Supreme Court recently ordered the Reserve Bank of India (RBI) to provide a list of loan defaulters and its inspection reports in this regard to those who seek them under the Right to Information (RTI) Act.

On Board members being provided with the RBI inspection reports into their banks, Venkatachalam said: "The RBI inspection reports are placed on the table on the day of the Board meeting. But the bank management does not give the Board of Directors enough time to go through the voluminous report. The reports are taken back at the end of the meeting."