India Post Payment Bank, IPPB Expects CEO from State Bank of India
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.
The government set aside
an initial corpus of ₹ 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
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