Which of the following ins titution is responsible for

Solution

Financial Services Institutions Bureau (FSIB) is  a government body set up under the Department of Financial Services. FSIB is the single entity for making recommendations for appointments of whole-time directors and non-executive chairman of banks and financial institutions. On the basis of recommendations of FSIB, the Appointments Committee of the Cabinet (ACC ), headed by the Prime Minister , considers and approves appointments .   In 2022, the government transformed the Banks Board Bureau (BBB ),  into FSIB by making some amendments. Guidelines for the selection of general managers and directors of public sector general insurance companies have been made part of FSIB.   FSIB is headed by a chairman , a central government nominee. The board of FSIB c omprise s of the Secretaries of the DFS, the chairman of IRDAI, and a deputy governor of the RBI. Additionally, it has three part-time members who are experts in banking and three more from the insurance sector.   At present, Bhanu Pratap Sharma, is the chairman of FSIB , f ormer secretary of Department of Personnel and Training ( DoPT ). His term was extended by another year in July 2025 till June 30, 2026 .