The finance ministry has moved a file to extend the tenure of three public sector banks’ managing directors, including Punjab National Bank (PNB), according to sources.

Besides, the sources said the ministry has recommended the department of personnel and training (DoPT) for extension of 10 executive directors (EDs) of various public sector banks.

The three-year term of S. S. Mallikarjuna Rao, MD and CEO of PNB, is coming to an end on September 18 but the finance ministry has recommended extension for four months till January 31, 2022, when Rao attains his superannuation age of 60 years.

Atul Kumar Goel’s term as MD and CEO of Uco Bank has been recommended for a two-year extension beyond November 1 this year.

A. S. Rajeev, MD and CEO of Bank of Maharashtra, has been suggested for an extension of two years beyond December 1.

The finance ministry has simultaneously forwarded the name of S. L. Jain for the appointment of MD and CEO of Indian Bank. The Banks Board Bureau had recommended the name of Jain in May after the interview.