PNB looks to hire non-judicial member to seek advice on compromise, write-offs

PNB looks to hire non-judicial member to seek advice on compromise, write-offs  |  Photo Credit: BCCL

New Delhi: Punjab National Bank (PNB) is looking to hire a non-judicial member for seeking advice on issues like compromise and write off related to loans.

The public sector lender has invited expression of interest (EoI) from professional or retired personnel based in or around Delhi.

"Punjab National Bank, one of the leading public sector bank in India having its corporate office in Dwarka, New Delhi, invites Expression of Interest from professional/ retired personnel based in or around Delhi, for honorary positions (One Non- Judicial member)," it said in a notice.

The non-judicial member will act as a member of the Head Office Committee (HOSAC), which has been constituted by the bank for scrutinising the proposal relating to compromise/write off, the release of guarantors, waivement of legal action among others and for making its recommendation to the competent authority for consideration, according to the EoI.

The Delhi-headquartered lender said it is seeking an eminent/reputed person, preferably retired CMD/ED/CGM/GM of a public sector bank.

"The position is honorary. The members of the committee shall, however, be entitled for sitting fee of ₹15,000 plus conveyance expenses of ₹1500," the lender said.

The committee generally meets once or twice a month (as per requirement) at the corporate office of the bank, it added.

As per the EoI, interested candidates can send their application by April 14, 2021.