Vacancies for CGM, GM, DGM and AGM increased in all Public sector banks.
Finance minister has approved revision in CGM level post in public sector banks. Earlier, the CGM (Chief General Manager) post was permitted in select banks, however, finance ministry has now allowed the it in all public sector banks irrespective of size of business.
CGM is a scale VIII level designation in public sector banks and top post below the board of directors.
According to the letter issued by DFS, MOF, the nationalized banks shall be divided into two categories based on business mix as on 31st March 2023; Category A with business mix of less than Rs.10 lac crores and Category B with business mix of Rs.10 lac crores and above.
The criteria for deciding number of posts in nationalized banks is :
| Business mix upto Rs.4 lac crores: | 4 CGM |
| Business mix between Rs.4lac crores to Rs.10 lac crores: | 8 CGM |
| Business mix above Rs.10 lac crores: | Minimum 10 CGM and one additional post for every increase in business mix upto Rs.1 lac crore |
Accordingly the posts for GM, DGM and AGM shall also increase. Number of GM is linked with number of CGM and number of DGM and AGM is linked to number of GM.The ratio of CGM:GM is 1:4 and GM:DGM:AGM is 1:3:9
The posts defined based on business mix as on 31st March 2023 for nationalized banks are as under:
| Bank | CGM | GM | DGM | AGM |
| Category A Banks | ||||
| Punjab & Sind Bank | 4 | 16 | 48 | 144 |
| Bank of Maharashtra | 8 | 32 | 96 | 288 |
| UCO Bank | 8 | 32 | 96 | 288 |
| Indian Overseas Bank | 8 | 32 | 96 | 288 |
| Central Bank of India | 8 | 32 | 96 | 288 |
| Category B Banks | ||||
| Indian Bank | 11 | 44 | 132 | 396 |
| Bank of India | 12 | 48 | 144 | 432 |
| Union Bank of India | 20 | 80 | 240 | 720 |
| Canara Bank | 21 | 84 | 252 | 756 |
| Punjab National Bank | 22 | 88 | 264 | 792 |
| Bank of Baroda | 22 | 88 | 264 | 792 |
The executives posted at other organisations such as RRBs. Subsidies, Joint Ventures, Govt. Offices including CBI, IBBI, CVC, DFS,CERSAI, DRT etc. to be treated as over and above the prescribed ceilings.
The additional vacancies created shall be released in a staggered manner in 3 years effective from 1st April 2025.
In case of category A banks, atleast 50% of the total CGMs should be placed at the corporate office.