Discover and read the best of Twitter Threads about #sbiact
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#TheTalwarAmendment:
The rot afflicting PSBs had started in 1976 when the #SBIAct was amended to authorise the Govt to remove the SBI Chairman w/o citing any reason.
Prior to this, chairman couldn't be removed before completion of his term, w/o giving "sufficient ground".
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The rot afflicting PSBs had started in 1976 when the #SBIAct was amended to authorise the Govt to remove the SBI Chairman w/o citing any reason.
Prior to this, chairman couldn't be removed before completion of his term, w/o giving "sufficient ground".
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This amendment to SBI Act is commonly known in banking circles as #theTalwarAmendment as it's sole purpose at that time was to remove #RKTalwar, the most illustrious chairman of #SBI, who refused to bow to a diktat of #SanjayGandhi, the most powerful politician at the time.
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The complete story behind this amendment is given in a booklet "R K Talwar: Values in Leadership" by #NVaghul, the illustrious chairman of #ICICIBank, who started his career in SBI and had been mentored by none other than Talwar himself. The story briefly goes as under.
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