Bhanu Pratap Sharma, former Secretary of the Department of Personnel and Training (DoPT), will continue as FSIB chairperson. The extension also covers part-time members Animesh Chauhan, former Chairman and MD of Oriental Bank of Commerce; Deepak Singhal, former Executive Director at the Reserve Bank of India; and Shailendra Bhandari, former MD of ING Vysya Bank.
In the insurance sector, part-time members Usha Sangwan, former MD of LIC; A V Girija Kumar, former CMD of Oriental Insurance Company Ltd; and Sujay Banarji, former whole-time member (distribution) at IRDAI, have also been granted a similar extension.
This is the second consecutive year the government has extended the FSIB’s term. Sharma had first been appointed as Chairman of the Banks Board Bureau (BBB), FSIB’s predecessor, in 2018. The government restructured the BBB into FSIB in 2022, expanding its role to include appointments for public sector insurance firms.
FSIB functions as the headhunting body for top-level appointments in state-run banks and financial institutions. It recommends names for the roles of whole-time directors and non-executive chairpersons, which are then considered and approved by the Appointments Committee of the Cabinet headed by the Prime Minister.
