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New Delhi: The government will establish Financial Services Institutions Bureau (FSIB) as a single entity for making recommendations for appointments of whole time directors and non-executive chairman of banks and financial institutions, officials aware of the development said.
FSIB will replace Banks Board Bureau. The Appointments Committee of the Cabinet (
) has asked the Department of Financial Services to carry out necessary modifications in the Nationalised Banks (Management and Miscellaneous Provisions) Scheme of 1970/1980 with the approval of finance minister to effect this change, and then notify the government resolution for establishing FSIB as a single entity for making recommendations for appointments of whole time directors and non-executive chairman of banks and financial institutions, said official cited above.
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