Government of India has increased the number of GM’s in Nationalised Banks. FW ERI BOI

nagaraj posted: "Government of India has increased the number of GM's in Nationalised Banks.    ( CGM posts discontinued ) Ministry of Finance vide its circular dt.22.02.2016 has increased the posts of General Managers in various Public Sector Banks.  The details are as " New post on BANKNEWS-VIEWS Government of India has increased the number of GM's in Nationalised Banks. ( CGM posts discontinued ) by nagaraj Government of India has increased the number of GM's in Nationalised Banks.    ( CGM posts discontinued ) Ministry of Finance vide its circular dt.22.02.2016 has increased the posts of General Managers in various Public Sector Banks.  The details are as follows Name of The Bank Existing GM's Proposed  No of GM,s Total Business In Crores Punjab & Sindh Bank 12 12 1,51,511 United Bank of India 13 13 1,77,888 Dena Bank 13 14 1,96,565 Vijaya Bank 13 15 2,14,035 Bank of Maharashtra 13 15 2,23,329 Andhra Bank 16 18 2,84,588 Indian Bank 18 19 2,98,057 Corporation Bank 20 21 3,47,054 Allahabad Bank 21 21 3,46,519 Oriental Bank of Comm 21 22 3,52,049 UCO bank 21 22 3,66,149 Syndicate Bank 22 25 4,61,192 Indian Overseas Bank 24 25 4,25,090 Central Bank of India 26 26 4,50,539 Union Bank of India 29 30 5,79,627 Canara Bank 38 39 8,08,777 Bank of India 38 41 9,43,633 Punjab National  Bank 41 41 8,81,913 Bank of Baroda 43 46 10,54,840 No of GM's are decided as per the following formula Total Business of Bank No of General Managers Business upto Rs.1,60,000 crores No of GM's    12 Business beyond Rs.1,60,000 crores but below Rs.4,00,000 crores One additional GM for every Rs.20,000 crores Business Beyond Rs.4,00,000 crores One additional GM for every Rs.28,000 crores With regard to the other executives i.e DGM's and AGM's , Government has  the ratio should be 1:3:9 ( GM,DGM,AGM ) Further with immediate effect Ministry of Finance has instructed banks to discontinue the practice of re-designating the senior GM's as  CGM. ( Chief General Manager )