PSBs fall behind on governance as key board positions remain vacant for years: RTI

Our Founder and MD, Mr. Shriram Subramanian, has shared his views on the governance concerns at BusinessLine.

A recent RTI has revealed that several public sector banks (PSBs) are operating with significant gaps in leadership, as crucial board positions, including Chairmen, MD & CEOs, and Chartered Accountant Directors, have remained vacant for years. This raises serious governance concerns, with major institutions such as Union Bank of India, Central Bank of India, Bank of Baroda, and others continuing to function without complete boards.

He highlighted that PSBs and other public sector entities often cite delays in ministry approvals for board appointments. However, since the tenure and responsibilities of directors are well defined, these appointments can be proactively planned to ensure continuity in governance.

Read the full article: https://www.thehindubusinessline.com/money-and-banking/psbs-fall-behind-on-governance-as-key-board-positions-remain-vacant-for-years-rti/article70000598.ece