The Financial Services Institutions Bureau (FSIB) has invited applications for the post of Managing Director (MD) and Chief Executive Officer (CEO) of public sector lender Bank of Baroda.
The last date for submitting the complete online application is December 26, according to a notice issued by the FSIB on December 7. FSIB is the recruiter for directors of state-owned banks and financial institutions.
The three-year tenure of the incumbent MD and CEO of Bank of Baroda, Sanjiv Chadha, is ending next month. The usual retirement age for an MD of state-owned banks is 60 years. However, Chadha will turn 60 in April 2023.
While FSIB will shortlist the candidates after the personal interview, the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, will take a final decision on the recommendations.
According to the FISB notice, the applicant should be in the age group of 45 to 57 years as on December 7, 2022.
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 December 7, 2022.
The MD and CEO will hold the office for a three-year term subject to the age of superannuation as 60 years. The post carries a pay scale of Rs 2,05,400 to Rs 2,24,400 plus allowances as admissible to the Chief Executive of Public Sector Banks and Financial Institutions from time to time.
Shares of Bank of Baroda are trading 1.79 percent higher at Rs 193.45.
(Edited by : Rukmani Krishna)
First Published: Dec 13, 2022 11:35 AM IST
