The government has given a 14-month extension in service to T.M. Bhasin, CMD, Indian Bank. However, in terms of the prevailing practice, he would be MD and CEO and not CMD. He will now retire in May 2016, when he turns 60. He became CMD of the bank in April 2010 and had been given a five-year term. Earlier, the government had declined to extend the terms of Punjab National Bank CMD K.R. Kamath even though he had one year of service left. Arun Kaul, CMD, UCO Bank, will also complete his five-year term on 31 August this year and will still have about one year to attain superannuation. The government has already appointed CEO and MDs in four banks – Indian Overseas Bank, Oriental Bank of Commerce, Vijaya Bank and United Bank of India. It is also in the process of appointing CEO and MDs in Punjab National Bank, Bank of Baroda, Canara Bank, Bank of India and IDBI Bank.
