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Govt revamps BBB into FSIB to control bank top appointments
Business
Published on 24 April 2026
A new single bureau will choose whole time directors
The Appointments Committee of the Cabinet has asked the Department of Financial Services to amend the Nationalized Banks schemes and set up FSIB as a single entity. After Finance Minister approval, a government resolution will be issued to centralize recommendations for appointing whole time directors and non-executive chairpersons across banks and financial institutions.
- ACC directs DFS to modify the 1970/1980 nationalized banks schemes
- FSIB will operate as a single entity for appointment recommendations
- Recommendations will cover whole time directors and non-executive chairpersons
- A government resolution will follow Finance Minister approval
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times