New Delhi, Aug 18, 2014: The Centre is moving swiftly to clean up the appointments to state-run bank boards and unveil fresh guidelines to revamp the system of senior-level appointments which have come under intense scrutiny after the alleged Syndicate Bank bribery scandal.
Stung by the alleged Syndicate Bank bribery scandal, the government has decided to split the post of the chairman and managing director. The chairman would be a reputed person from the industry or a professional while the MD would have a fixed term of three years, which would be extendable by two more years.