FSIB invites application from private sector for selection of public sector banks’ EDs

FSIB, the headhunter for directors of State-owned banks and financial institutions, has invited applications from eligible candidates, including those from the private sector, for the appointment of executive directors of nationalised banks during the current financial year.

Inclusion of candidates from the private sector is a departure from the set procedure, and this is the first time that the Financial Services Institutions Bureau (FSIB) would consider them for selection for more than half a dozen vacancies of EDs expected to be created during the current financial year.

As per the eligibility criteria announced by FSIB, the applicant from the private sector should have at least 18 years of experience, with 12 years of banking experience, including 3 years at the highest level below board level (to be held on a substantive basis).

Candidates who are not from nationalised banks shall be considered as private candidates, FSIB said in a public notice. Private candidates are required to provide an organogram of the bank in which they have the highest level of experience below board level, clearly indicating their position in the organisation hierarchy, it said, adding that the organogram(s) should be submitted along with the resume. With respect to candidates from public sector banks, it said, the applicant should have a combined service of 4 years at the Chief General Manager and General Manager levels in nationalised banks.

Candidates holding the post of Chief Vigilance Officer (CVO) would not be considered for appointment to the post.

If an officer has faced two or more major penalties in his/her career, he/she shall not be eligible to apply for the position of ED, nationalised banks, it said.

The penalties imposed, including minor penalties, on the applicants during the last 10-year period shall also be disclosed, it added.

Selection will be based on shortlisting and personal interview, it said, adding that applications received shall be scrutinised and shortlisted for interview based on experience and eligibility conditions.

Final selection of the candidates will be done by the FSIB, and allocation of banks will be done on merit-cum-preference basis for the anticipated vacancies.

The unanticipated vacancies, if any, arising during the FY 2026-27 shall be filled through the panel of candidates in the waiting list created through this selection process, it said.