Financial Services Institutions Bureau (FSIB) recommends names for MD posts of Bank of Baroda, Bank of India.

Why in news

• FSIB recommended MDs for Bank of Baroda and Bank of India.
• FSIB is set up, under Department of Financial Services (DFS), Ministry of Finance, for-
  • Recommending whole-time directors and non-executive chairpersons on Boards of financial services institutions.
  • Advising on certain other matters relating to personnel management in these institutions.
• FSIB replaced Banks Board Bureau.
• Composition
  • Chairperson to be nominated by Central Govermment.
  • Ex officio members: Secretary in charge of DFS, Department of Public Enterprises, Chairperson of IRDM. Deputy Govemor of RBI.
  • Several part-time members with subject matter knowledge.