Tag: Appointments Committee of the Cabinet

BBB recommends two names for forthcoming two LIC MD posts

Banking & Finance

[ad_1]

Read More/Less


The Banks Board Bureau (BBB), an apex body tasked to recommend candidates for the top management posts in public sector banks and state owned insurers, has recommended two names for the forthcoming two positions of Managing Director in insurance behemoth Life Insurance Corporation (LIC).

While Ipe Mini has been recommended for the first vacancy of Managing Director of LIC, the BBB has recommended B C Patnaik for the second vacancy of Managing Director in LIC.

Meanwhile, the Finance Ministry is yet to approach the Appointments Committee of the Cabinet (ACC) on the issue of recommending an extension in the tenure of the incumbent LIC Chairman M R Kumar. Although it is widely speculated that Government is bringing changes in the eligibility and experience criteria for appointment of LIC Chairman, no such formal proposal has been yet made by the Finance Ministry to the ACC as yet, it is learnt.

Currently, LIC has four Managing Directors –Vipin Anand, Mukesh Kumar Gupta, Raj Kumar and Siddhartha Mohanty. The Government is looking to take LIC public this fiscal through a mega initial public offering ( IPO) and raise about ₹ 1 lakh crore from the divestment.

Other BBB recommendations

The BBB has recommended the name of Inderjeet Singh for the position of Chairman and Managing Director of United India Insurance Company Ltd. Also, BBB has recommended Suchita Gupta for the position of CMD in National Insurance Co Ltd.

BBB had on May 7 interfaced with eight candidates for the forthcoming positions of Chairman-cum-Managing Directors in National Insurance Company Ltd and United India Insurance Company Ltd.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , ,

Government names T Rabi Sankar as Deputy Governor of RBI, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


North Block appointed T Rabi Sankar, executive director of the Reserve Bank of India as the fourth deputy governor of the central bank, said a government source with knowledge of the matter.

“The Appointments Committee of the Cabinet has approved the appointment of Shri T. Rabi Sankar, Executive Director, Reserve Bank of India to the post of Deputy Governor, Reserve Bank of India for a period of three years from the date of joining the post or until further orders, whichever is earlier,” the government said in an internal circular.

Sankar will succeed incumbent BP Kanungo, who retired last month after completing one year extension period. Rabi Sankar’s portfolio includes fintech, information technology, payments system and risk monitoring at the RBI. He had joined the central bank as a research officer way back in September 1990, show a LinkedIn profile.

Sankar has a Master’s degree in Science and Statistics from Banaras Hindu University. He earned his diploma in Development Planning from the Institute of Economic Growth. The other three deputy governors are Mahesh Kumar Jain, Michael Patra and Rajeshwar Rao. Last year Sankar also became the Chairman of Indian Financial Technology & Allied Services (IFTAS), a wholly-owned subsidiary of RBI.

More than a decade ago, Sanker had worked with the International Monetary Fund (IMF) on bond market development for the government and central bank of Bangladesh. He was also associated with the Bank of International Settlement on capital market activities.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , ,