With nine public sector bank chiefs set to retire in 2013-14, the finance ministry has relaxed the eligibility criteria for the selection of chairman and managing director’s (CMD) post in these banks. According to bankers, a candidate who has served as an executive director (ED) for six months in public sector banks can now aspire to be a CMD. Earlier, only officials who served two years as ED were considered for the CMD’s post. However, the criterion for residual service — the number of years left for a candidate to serve the bank — has been kept unchanged at two years.............
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