PSU Banks to get Pvt Sector Execs

The government is set to appoint executives from the private sector to head two of India's public sector banks (PSB), including one of the biggest — Bank of Baroda — initiating a major reform of the state-run part of the banking sector. In all, the finance ministry has sought approval for the appointment of heads of five PSBs. PS Jayakumar of Value & Budget Housing Corporation is likely to head the country's second-biggest state-run bank — Bank of Baroda (BoB) — while Rakesh Sharma of Laxmi Vilas Bank could head Canara Bank.

Read Economic Times full report here.