Government of India has increased the number of GM’s in Nationalised Banks. ( CGM posts discontinued )

The Government of India has increased the number of GM’s in Nationalised Banks.    ( CGM posts discontinued )

Ministry of Finance vide its circular dt.22.02.2016 has increased the posts of General Managers in various Public Sector Banks.  The details are as follows    

Name of The Bank Existing GM’s Proposed  No of GM,s Total Business

In Crores

Punjab & Sindh Bank 12 12 1,51,511
United Bank of India 13 13 1,77,888
Dena Bank 13 14 1,96,565
Vijaya Bank 13 15 2,14,035
Bank of Maharashtra 13 15 2,23,329
Andhra Bank 16 18 2,84,588
Indian Bank 18 19 2,98,057
Corporation Bank 20 21 3,47,054
Allahabad Bank 21 21 3,46,519
Oriental Bank of Comm 21 22 3,52,049
UCO bank 21 22 3,66,149
Syndicate Bank 22 25 4,61,192
Indian Overseas Bank 24 25 4,25,090
Central Bank of India 26 26 4,50,539
Union Bank of India 29 30 5,79,627
Canara Bank 38 39 8,08,777
Bank of India 38 41 9,43,633
Punjab National  Bank 41 41 8,81,913
Bank of Baroda 43 46 10,54,840

 

No of GM’s are decided as per the following formula

Total Business of Bank No of General Managers
Business upto Rs.1,60,000 crores No of GM’s    12
Business beyond Rs.1,60,000 crores but below Rs.4,00,000 crores One additional GM for every Rs.20,000 crores
Business Beyond Rs.4,00,000 crores One additional GM for every Rs.28,000 crores

 

With regard to the other executives i.e DGM’s and AGM’s , Government has  the ratio should be 1:3:9 ( GM,DGM,AGM )

Further with immediate effect Ministry of Finance has instructed banks to discontinue the practice of re-designating the senior GM’s as  CGM. ( Chief General Manager )

 

For Original Circular issued by Ministry of Finance ( Department of Financial Services ) please click the link below

Discontinuation of post of CGM

No of GM’s and DGM’s and AGM

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