Government Extends Tenure of FSIB Chairman and Members by One Year
The Indian government has officially extended the tenure of the Financial Services Institutions Bureau (FSIB) Chairman Bhanu Pratap Sharma and its part-time members by one year. Their new term will now run from July 1, 2025, to June 30, 2026, or until further orders.
What Is FSIB and Why It Matters
The FSIB is the primary body responsible for selecting and recommending top-level appointments in public sector banks, insurance companies, and financial institutions. It replaced the Banks Board Bureau (BBB) in 2022, with a broader and more authoritative mandate in India’s financial ecosystem.
Who Has Been Given the Extension
Chairman: Bhanu Pratap Sharma (Former Secretary, Department of Personnel and Training)
Banking Sector Members:
Animesh Chauhan
Deepak Singhal
Shailendra Bhandari
Insurance Sector Members:
Usha Sangwan
A.V. Girija Kumar
Sujay Banarji
These part-time members represent the core decision-making group that shortlists candidates for executive roles in leading financial bodies.
Why the Extension Is Strategically Important
Leadership Continuity: The FSIB oversees crucial executive appointments such as managing directors and chairpersons in institutions like SBI, LIC, and other PSBs.
Policy Stability: As India navigates an evolving financial landscape, steady leadership at FSIB ensures uninterrupted institutional governance.
Selection Cycle Consistency: Several key positions in banks and insurance companies are due for appointment or reappointment in FY 2025-26.
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FAQ: FSIB Chairman and Members’ Tenure Extension
Q1. What is FSIB?
The Financial Services Institutions Bureau is a government-backed body responsible for appointing top executives in public sector banks and insurance firms.
Q2. Why was the FSIB chairman’s tenure extended?
To maintain continuity in governance and ensure a seamless selection process during an important transition period in FY 2025-26.
Q3. Who is Bhanu Pratap Sharma?
He is the current FSIB Chairman and former Secretary of the Department of Personnel and Training. His role is crucial in leadership appointments.
Q4. What’s the impact of this extension on public sector banks?
It ensures stability in decision-making for high-level appointments, avoiding delays and disruption in leadership transition.
Q5. How is FSIB different from the earlier Banks Board Bureau?
FSIB has a broader mandate than BBB and operates under the Department of Financial Services with extended jurisdiction over financial institutions and insurers.
Published on: July 1st, 2025
Uploaded by: PAVAN
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