Home / Industry / Banking /  FSIB invites applications for Bank of Baroda's CEO post; check eligibility criteria, last date to apply here

The Financial Services Institutions Bureau (FSIB) has invited applications for the post of Managing Director & Chief Executive Officer (MD & CEO) of Bank of Baroda (BoB). Interested and eligible candidates can send in application from the FSIB official website i.e. fsib.org.in.

The last date for submitting the complete online application is 26 December, 2022 by 5:00 pm.

The three-year term of incumbent Sanjiv Chadha is coming to an end next month. However, Chadha would be attaining 60 years, the usual retirement age for MD of nationalised banks, in June 2023.

As per the public notice issued by FSIB, the applicant should be in the age group of 45 to 57 years as on December 7, 2022. The MD would be holding the office for a term of three years from the date on which he/she enters the office subject to the age of superannuation as 60 years.

Speaking of experience, the applicant should have at least 15 years of mainstream banking experience, of which at least one year should at the Board Level as on 7 December, 2022. Person of ability, integrity and standing with knowledge and experience in Banking. Other experience criteria includes, proven management, leadership and innovative skills to build and inspire team, experience of institutional development in banking sector.

As per the notification, the post of MD & CEO, Bank of Baroda carries Pay Scale of 2,05,400 - 2,24,400/- [Level 16] plus allowances as admissible to Chief Executive of Public Sector Banks/ Financial Institutions from time to time.

Selection will be based on shortlisting and personal interview and final selection of the candidate will be done by the Bureau.

Last month, on 30 November, the headhunter for directors of state-owned banks and financial institutions had invited applications for the position of MD of another large state-owned lender Bank of India. Come new year, both the Mumbai-based lenders -- Bank of India and BoB -- would get new heads to run the affairs.

The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.

FSIB is headed by former secretary, Department of Personnel and Training (DoPT), Bhanu Pratap Sharma. Other members of the headhunter are Animesh Chauhan, former chairman and managing director of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.

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