In News: The FSIB has asked the Indian Banks’ Association (IBA) to appoint an institution or firm to design and deliver a leadership development programme for PSU banks (PSBs).
Recently, Financial Services Institutions Bureau (FSIB) stated it will select top officials of banks via a grooming process under a leadership development programme.
The programme aims to groom business leaders of the PSBs who should be ready to assume top management and board level positions in PSBs and to drive long-term sustainable business in a competitive market place
The firm which will design and execute the programme will be selected by the IBA through a bidding process.
The objective is to develop future generation of leaders who are digitally savvy, strategic thinkers with capability to build highly collaborative teams and create a customer centric organisation that thrives in a very dynamic competitive environment.
The programme will up-skill around 75 participants in the senior management.
The proposed firm should have capability to design and deliver a training programme for senior officers of PSU banks that can be delivered through three modes — online as e-learning modules, online through live webinars, meetings and through in-person mode.
Financial Services Institutions Bureau
Recently, Cabinet Appointments Committee (ACC) has passed a government resolution to establish the Financial Services Institutions Bureau (FSIB)in place of the Banks Board Bureau (BBB).
The Financial Services Institutions Bureau will select the chiefs of public sector banks and insurance companies.
The FSIB will have the clear mandate to issue guidelines and select general managers and directors of state-run non-life insurers, general insurers and Financial Institutions.
FSIB will be the single entity for making recommendations for appointments of WTD (Whole-time Director) and NEC (Non-executive Chairman) in Public Sector Banks, India Private Limited company and Financial Institutions.
The ACC has approved the appointment of Bhanu Pratap Sharma as Initial chairperson of FSIB for two years. He was the former Chairman of BBB.
Banks Board Bureau (BBB)
The government, in 2016, approved the constitution of the BBB to make recommendations for appointment of whole-time directors as well as non-executive chairpersons of Public Sector Banks (PSBs) and state-owned financial institutions.
It was an autonomous recommendation body.
Issues
Delhi High Court had struck down the BBB’s power to select directors of Public Sector Undertaking, general insurance companies
Delhi High Court in 2020 ruled that the BBB couldn’t select the general managers and directors of state-run general insurers, as it was not a competent body.
