In 2011 and 2012, Ministry of Finance issued certain guidelines for creation and rationalization of posts of GMs, DGMs and AGMs, as GoI felt that banks have been misusing the powers available to them in creation of such posts. Now once again these guidelines have been reviewed and new set of guidelines have been sent to Public Sector Banks. Now in June 2013, MoF has announced the number of posts at the level of General Managers for each bank based on the business mix of the bank as on 31.03.2013. Broadly, these guidelines are as follows:- For the Banks with Business Number of GMs Up to Rs. 1,50,000 crores Number of GMs is 12 Beyond Rs 1,50,000 crores and less than Rs 4,00,000 crores One additional GM for every Rs 18,000 crores Beyond Rs 4,00,000 crores One additional GM for every Rs 24,000 crores Based on above guidelines, MoF has calculated the maximum number of General Managers in each Public Sector Bank based on the business mix as on 31/03/2013. The details of posts of GMs is given below based on MoF guidelines. These guidelines will now be reviewed only based on the business mix as on 31.03.2015 and the ceiling provided below shall remain effective till next review. As per MoF circular, it appears that Punjab National Bank, Canara Bank, Bank of India already have exceeded the number of posts at General Manager level. MoF has allowed them to retain the existing number of General Managers. The ratio of GM/DGM/AGM shall continue to be as before i.e 1:3:9. Thus, number of posts for DGMs and AGMs have been calculated in this ratio. (However, it may be lower for PNB, Canara Bank and BoI as MoF only says that they have been allowed to retain the number of GMs and not DGMs and AGMs.) Based on the guidelines, we give below the maximum number of General Managers / DGMs / AGMs that public sector banks will have till 31/03/2015. We hope this will bring transparency in the minds of bankers at senior levels as number of rumors float at the time of promotions etc. Name of the Bank Business Mix No of GMs No of DGMS No of AGMS As on 31/03/2013 (Figures in Crores of Rupees) Punjab and Sind Bank 122485 12 36 108 Dena Bank 163664 13 39 117 Vijaya Bank 167531 13 39 117 United Bank of India 170359 13 39 117 Bank of Maharashtra 170734 13 39 117 Andhra Bank 223934 16 48 144 Indian Bank 249136 18 54 162 Corporation Bank 285359 20 60 180 UCO Bank 305000 21 63 189 OBC 306084 21 63 189 Allahabad Bank 309678 21 63 189 Syndicate Bank 334778 22 66 198 Indian Overseas Bank 366501 24 72 216 Central Bank of India 402271 26 78 234 Union Bank of India 475673 29 87 261 Canara Bank* 599792 38 114 342 Bank of India* 674808 38 114 342 Punjab National Bank* 700285 41 123 369 Bank of Baroda 806696 43 129 387 Total 6834768 442 1326 3978
Posted on: Fri, 25 Oct 2013 10:41:52 +0000
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