FM P Chidambaram agrees to lateral hiring of bank chairmen, decides to favour precedence over merit

......the appointments for the key post in Bank of India,Bank of Baroda and Canara Bank were earlier to be filled through executive directors and not chairmen of smaller state-run banks, which was a precedent. The selection panel, which also has senior RBI officials, had selected six candidates for filling up the vacancies in 2012. But now, the current chairman of Indian Bank TM Bhasin will move to Bank of India and present UCO Bank chairman Arun Kaul will join Bank of Baroda..............

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