Wednesday, June 30, 2010

SBI as Maharatna?

Khandelwal Committee Report

Hitherto there was a practice of declaring the best performing PSUs as Navaratna or Mini-Ratnas for long years.  Today, it is interesting to read the above news clipping that a Committee headed by Mr A K Khandelwal, former CMD of Bank of Baroda recommends that SBI be awarded the status of Maharatna and other PSBs be also graded as Navaratna or Mini-Ratnas looking into their performance.  It is time that such honours be declared and the Leaders be decorated with titles even in the Banking industry in India.

The Committee also recommended about autonomy to banks in recruitment, performance appraisals, appointment of an exclusive ED for HRD, ESOP scheme in Banks, etc which was submitted to the Secretary of Financial Services Department of Government of India.  We need wait and watch for the res;ponses now.

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