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 )
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