FSIB recommends MDS for SBI, Indian Bank

The Financial Services Institutions Bureau (FSIB), the headhunter bureau for selecting directors of public sector banks (PSBS) and financial institutions, on Wednesday recommended Rana Ashutosh Kumar Singh for the post of managing director (MD) of SBI and Asheesh Pandey for around the bank’s IT systems over the last two years (2022 and 2023).

RBI said it found “serious deficiencies and noncompliances” in IT inventory management, patch and change management, user access management, vendor risk management, data security and data leak prevention strategy, the post of MD of

Bank.

“Keeping in view of their performance in the interface, overall experience and the extant parameters, the bureau recommends Rana Ashutosh Kumar Singh for the position of MD in SBI and Asheesh Pandey for the position of MD in Indian Bank,” the FSIB said, adding that the final decision on the FSIB’S recommendation

Indian would be taken by the Appointments Committee of the Cabinet.

As SBI is the country’s largest lender, it has four managing directors and one chairman. Singh is currently serving as deputy managing director at SBI. Currently, Pandey is serving as an executive director of Bank of Maharashtra.

FSIB, headed by former department of personnel and training secretary Bhanu Pratap Sharma interviewed 16 candidates on April 23, 24 and final recommendations were taken after the interview.

Other members of the headhunter are Animesh Chauhan, former CMD of erstwhile OBC, RBI’S former ED Deepak Singhal, and Shailendra Bhandari, ex-md of erstwhile ING Vysya Bank.