Finance Ministry Appoints Subhas Chandra Lal Das as FSIB Part-Time Chairperson

Points to Remember

• Subhas Chandra Lal Das, a retired 1992-batch IAS officer of the AGMUT cadre, is appointed part-time chairperson of FSIB for three years, effective from the date of notification or until further orders, whichever is earlier.
• Six part-time members appointed: Arijit Basu (ex-MD, SBI), Satish Kashinath Marathe (ex-RBI Central Board director), Ramanathan Subramanian (ex-RBI ED), Siddhartha Mohanty (ex-CEO & MD, LIC), Neerja Kapur (ex-CMD, New India Assurance), and T.L. Alamelu (ex-whole-time member non-life, IRDAI).
• Basu, Marathe and Subramanian will handle matters relating to public sector banks and financial institutions; Mohanty, Kapur and Alamelu will oversee public sector insurers.
• Appointments made under paragraph 5 of the government resolution dated 1 July 2022; the resolution is to be published in the Gazette of India.
• FSIB, constituted under the Department of Financial Services with effect from 1 July 2022, replaced the Banks Board Bureau and recommends candidates for whole-time directors and non-executive chairpersons in public sector banks, financial institutions and insurers.

Why it matters

FSIB shapes senior leadership in public sector banks and insurers, so its composition can influence appointment timelines and selection criteria for top roles in these institutions.