............For one, there are reports that the finance ministry has put off the appointments of at least 10 CMDs of public sector banks until the new norms are notified. The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years. Apart from banking experts and former RBI governors who have advocated such a move, a committee constituted by the central bank to review governance of banks had also endorsed this administrative restructuring. In a report submitted in May, the committee chaired by PJ Nayak, former chairman and chief executive officer of Axis Bank, said, "It would be desirable for the two positions to be separated. Until then there is a very real possibility of the several chairmen positions across banks being filled on the basis of political allegiance rather than professional skills. This could imperil banks."..........
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