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Financial Services Institutions Bureau

Financial Services Institutions Bureau:

FSIB recently recommended the name of SIDBI Chairman and Managing Director.

  • FSIB has recommended Manoj Mittal as the Chairman and Managing Director of Small Industries Development Bank of India (SIDBI) and Sanjay Shukla as the Managing Director of National Housing Bank (NHB).

Financial Services Institutions Bureau (FSIB):

  • It’s a government body set up under the Department of Financial Services (DFS), Ministry of Finance.
  • The primary role of FSIB is to identify manpower capabilities and ensure proper selection of talent for senior positions at financial institutions owned by the government.
  • It replaced the Bank Board’s Bureau (BBB), which was declared an incompetent authority.
  • FSIB would be headed by a chairman, a central government nominee.
  • The board would comprise the Secretaries of the DFS, the chairman of IRDAI, and a deputy governor of the RBI.
  • Additionally, it will have three part-time members who are experts in banking and three more from the insurance sector.