Finance Ministry considers proposal to raise posts of Chief General Managers in PSBs

As per existing government guidelines, there can be one CGM for four General Managers in a PSB

- PTI

NEW DELHI: The Finance Ministry is considering a proposal to raise the posts of Chief General Managers in public sector banks in view of their increasing business and profitability.

As per existing government guidelines, there can be one Chief General Manager (CGM) for four General Managers in a public sector bank (PSB).

These guidelines were issued in 2019 and since then there has been marked improvement in performance of PSBs despite the pandemic, sources said.

Business of PSBs have witnessed significant growth and consequently they booked record profit, sources said, adding the Department of Financial Services under the Finance Ministry is reviewing CGM positions for achieving the next level of growth by PSBs.