RBI makes adverse remarks against top PSU Bank Exec
RBI) has made certain adverse observations regarding the conduct of a senior executive chosen to head a state-owned bank.
The banking regulator has made certain remarks in a letter on the conduct of Asheesh Pandey, currently an executive director (ED) at Bank of Maharashtra (BoM), and has asked the finance ministry to consider them while evaluating his candidature for the managing director position, said multiple people aware of the development.
Pandey, age 54, is shortlisted for the role of MD & CEO at Indian Bank, but still requires final approval from the Appointments Committee of the Cabinet (ACC).
The ACC comprises the Prime Minister and the home minister.
A government official confirmed that it received a communication from the RBI in April and that along with other comments, it has been forwarded to the competent authorities.
«We have responded to the communication from the RBI and the Department of Personnel and Training (DoPT) on this matter,» he said, adding that the final decision will be taken by the ACC.
Asheesh Pandey and RBI did not respond to ET's request for comments.
In April, the RBI in a communication to the finance ministry pointed out that in September 2023 during an exit meeting to discuss supervisory findings, the 'behaviour and conduct' of Asheesh Pandey was 'found not befitting his position and responsibilities concerning regulatory compliance.'
The exit meeting is the final meeting to iron out differences between the RBI and the bank over the concerns raised by the regulator in the
