The Financial Services Institutions Bureau (FSIB) has invited applications for the post of Managing Director & Chief Executive Officer (MD & CEO) of the Bank of Baroda (BoB). Interested and eligible candidates can send in applications from the FSIB official website i.e. fsib.org.in.
Last month the headhunter for directors of state-owned banks and financial institutions invited applications for the position of MD of another large state-owned lender Bank of India.
According to the update, interested and eligible candidates can submit their complete online application for the role by Dec 26, 2022, until 5 pm on the day.
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 MDs of nationalized banks, in June 2023.
The MD would hold 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, it said.
The applicant should have at least 15 years of mainstream banking experience, of which at least one year should be at the Board Level as on December 7, 2022, and lie in the age bracket of 45 to 57 years as of the said date, read the application norm.
As per the notification, the post of MD & CEO, Bank of Baroda carries a Pay Scale of ₹2,05,400 – ₹2,24,400/- [Level 16] plus allowances as admissible to the Chief Executive of Public Sector Banks/ Financial Institutions from time to time.
The Bureau noted that the selection of the desired candidate will be done based on shortlisting and personal interviews.
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 the former secretary of the 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.
Shares of BoB were trading 1.82% higher at Rs 193.50 while writing this news.