Punjab & Sind Bank could go where it has never been in its 102-year history.
The Ministry of Finance has sought the guidance of Prime Minister Manmohan Singh to appoint a non-Sikh as the Chairman and Managing Director of Punjab & Sind Bank. The community bank, which was established in 1908 and nationalised in 1969, has always had a Sikh as its head.
“It is not written anywhere that Punjab & Sind Bank must have a Sikh as its head. But it has always been seen as a community-based bank. And unlike other community-based banks like Corporation Bank and Vijaya Bank, this bank has always been chaired by a person from the Sikh community,” said a senior government official.
“Therefore, we have sought the Prime Minister’s view on the subject before taking a final decision on this matter.”
According to the official, the Ministry could not find an eligible candidate from the Sikh community this time around. GS Vedi, the current CMD who is Sikh, is due to demit office this June. A few non-Sikhs have earlier served as head of the bank, but they have all been short stints in the nature of a temporary additional responsibility.
Punjab & Sind Bank is headquartered in Delhi. It was founded by Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh, and opened its first branch in Amritsar in 1908. Today, it has 917 branches and extension counters spread across the country. As of March 31, 2009, it had assets of Rs 41,363 crore.
The Ministry of Finance has sought the guidance of Prime Minister Manmohan Singh to appoint a non-Sikh as the Chairman and Managing Director of Punjab & Sind Bank. The community bank, which was established in 1908 and nationalised in 1969, has always had a Sikh as its head.
“It is not written anywhere that Punjab & Sind Bank must have a Sikh as its head. But it has always been seen as a community-based bank. And unlike other community-based banks like Corporation Bank and Vijaya Bank, this bank has always been chaired by a person from the Sikh community,” said a senior government official.
“Therefore, we have sought the Prime Minister’s view on the subject before taking a final decision on this matter.”
According to the official, the Ministry could not find an eligible candidate from the Sikh community this time around. GS Vedi, the current CMD who is Sikh, is due to demit office this June. A few non-Sikhs have earlier served as head of the bank, but they have all been short stints in the nature of a temporary additional responsibility.
Punjab & Sind Bank is headquartered in Delhi. It was founded by Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh, and opened its first branch in Amritsar in 1908. Today, it has 917 branches and extension counters spread across the country. As of March 31, 2009, it had assets of Rs 41,363 crore.
with thanks : INDIAN EXPRESS
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1 comment:
We are not against the appointment of a Non Sikh as the head of the bank. In a nationalised bank, any one of any cast & creed can be the head.
But we are really shocked on the official version that they could not find even a single eligible sikh for this post.
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