FSIB Leadership Extended: Ensuring Continuity in Financial Oversight

In a decisive move to ensure continuity, the Appointments Committee of the Cabinet has sanctioned a one-year extension for the Financial Services Institutions Bureau's (FSIB) leadership. This extension maintains the bureau's operations seamlessly, extending the terms of the chairperson and six part-time members until June 30, 2026.

Bhanu Pratap Sharma, former Secretary of the Department of Personnel and Training, will continue as the part-time chairperson, following a late-hour notification issued by the Department of Financial Services on June 30, 2025. This decision was crucial as the original terms were nearing their expiry.

The extension encompasses notable banking and insurance executives, including part-time members Animesh Chauhan, Shailendra Bhandari, and Deepak Singhal. For the insurance sector, the oversight will remain under the watch of experienced professionals like Usha Sangwan, AV Girija Kumar, and Sujay Banerji. The FSIB is pivotal in the strategic selection of leaders for state-owned banks and insurance companies, aimed at enhancing the professionalism and independence of these appointments.

(With inputs from agencies.)