Mundra flags possible leadershipvacuum in public sector banks
Mundra flags possible leadershipvacuum in public sector banks: Most bank chiefs due to retire in the next couple of years, says RBI Deputy Governor...
Vacuum at the top
This refers to the report “Mundra flags possible leadership vacuum in public sector banks” (HBL, September 29). Theconcerns about inadequate attention from authorities about vacancies at higher levels in PSBs coming from RBI Deputy Governor, not long after the media revelation that, at the time of Urjit Patel’s elevation as Governor, the Reserve Bank of India Central Board was half empty, send out disturbing signals.
GOI’s approach to filling top level vacancies gives an impression that those responsible for ‘pushing files’ to ensure timely filling up of vacancies on boards and at the top executive levels are under pressure to delay things. Political leadership seems to be uncomfortable with strong leadership in statutory bodies and PSUs (including PSBs). The possible reason being the easy manoeuvrability in times of need when there are only those holding ‘additional charge’ or people who want to make sure of their next assignment at the top of important institutions. Such an approach has destroyed institutions like Unit Trust of India.
Coming to the limited issue of vacancies on the central and local boards of RBI and the unfilled top positions in RBI and PSBs, it is in the national interest to think of a ‘zero vacancy approach’ for positions of Executive Directors and above including board level positions. The approach will need a decision to allow incumbents to continue in position till the successors take over, except in exceptional situations where a position becomes vacant due to death or punishment. Tenure of all such positions should be made 5 years or above which can be made possible by changing retirement age, where necessary.
M G Warrier, Mumbai