The Department of Posts has asked select public sector banks to nominate their board level members or senior executives for the post of CEO at India Post Payments Bank (IPPB), which is set to be operational in March 2017. The board of IPPB is likely to be in place within 45 days with 5 independent members and 4 in-house representations, the DoP said.
“We have written to select public sector banks like Punjab National Bank, Canara Bank, Bank of Baroda, Bank of India, Union Bank to recommend their board level officers or senior executives who may be interested in managing our payments bank as CEO on deputation basis,” DoP Secretary SK Sinha on Wednesday told reporters here.