FSIB Seeks Applications For Post, For Bank Of Baroda CEO

The Financial Services Institutions Bureau on Wednesday invited applications from eligible candidates for the post of Managing Director & Chief Executive Officer (MD & CEO) of Bank of Baroda (BoB). Last month the headhunter for directors of state-owned banks and financial institutions had invited applications for the position of MD of another large state-owned lender Bank of India.

The three-year term of incumbent Sanjiv Chadha was coming to an end next month. However, Chadha would be attaining 60 years, the usual retirement age for MD of nationalised banks, in June 2023. As per the public notice issued by FSIB, the applicant should be in the age group of 45 to 57 years as on December 7, 2022.

The MD would hold the office for a term of three years from the date on which he/she enters the office subject to the age of superannuation as 60 years, it said. Selection will be based on shortlisting and personal interview and final selection of the candidate will be done by the Bureau. Come new year, both the Mumbai-based lenders -- Bank of India and BoB -- would get new heads to run the affairs.

The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. Last date for sending applications is December 26, 2022, it said. FSIB is headed by former secretary, Department of Personnel and Training (DoPT), Bhanu Pratap Sharma. Other members of the headhunter are Animesh Chauhan, former chairman and managing director of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.

(PTI)