Government of India has increased the number of GM’s in Nationalised Banks. ( CGM posts discontinued )

The Government of India has increased the number of GM’s in Nationalised Banks.    ( CGM posts discontinued )

Ministry of Finance vide its circular dt.22.02.2016 has increased the posts of General Managers in various Public Sector Banks.  The details are as follows

Name of The Bank	Existing GM’s	Proposed  No of GM,s	Total Business In Crores
Punjab & Sindh Bank	12	12	1,51,511
United Bank of India	13	13	1,77,888
Dena Bank	13	14	1,96,565
Vijaya Bank	13	15	2,14,035
Bank of Maharashtra	13	15	2,23,329
Andhra Bank	16	18	2,84,588
Indian Bank	18	19	2,98,057
Corporation Bank	20	21	3,47,054
Allahabad Bank	21	21	3,46,519
Oriental Bank of Comm	21	22	3,52,049
UCO bank	21	22	3,66,149
Syndicate Bank	22	25	4,61,192
Indian Overseas Bank	24	25	4,25,090
Central Bank of India	26	26	4,50,539
Union Bank of India	29	30	5,79,627
Canara Bank	38	39	8,08,777
Bank of India	38	41	9,43,633
Punjab National  Bank	41	41	8,81,913
Bank of Baroda	43	46	10,54,840

No of GM’s are decided as per the following formula

Total Business of Bank	No of General Managers
Business upto Rs.1,60,000 crores	No of GM’s    12
Business beyond Rs.1,60,000 crores but below Rs.4,00,000 crores	One additional GM for every Rs.20,000 crores
Business Beyond Rs.4,00,000 crores	One additional GM for every Rs.28,000 crores

With regard to the other executives i.e DGM’s and AGM’s , Government has  the ratio should be 1:3:9 ( GM,DGM,AGM )

Further with immediate effect Ministry of Finance has instructed banks to discontinue the practice of re-designating the senior GM’s as  CGM. ( Chief General Manager )