Ministry Wants PSU Banks to Promote Staff on Merit



Mumbai: Keeping in mind likely mass retirement of GMs (general manager) and DGMs (deputy general managers) in state-owned banks, the Finance Ministry has asked public sector lenders to consider promoting lower rung employees on merit to fill manpower shortage.

In a recent meeting with the heads of the state-run banks and the Indian Banks Association (IBA), Financial Services Secretary Hasmukh Adhia asked public sector banks to promote Scale-II and III staff from within them.

"The banks can fill the shortage of manpower at higher levels - of DGMs and GMs - due to the likely mass retirement in near future by promoting officers from Scale-II and III on merit," Mr Adhia said in a letter to PSU bank managements.

Earlier in January, Finance Minister Arun Jaitley had raised the issue of shortage of officers at the senior levels in public sector banks during the bankers retreat in Pune.