{"id":22461,"date":"2026-10-18T15:13:56","date_gmt":"2026-10-18T09:43:56","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=22461"},"modified":"2026-10-19T18:22:49","modified_gmt":"2026-10-19T12:52:49","slug":"financial-services-institutions-bureau-fsib","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/financial-services-institutions-bureau-fsib\/","title":{"rendered":"Financial Services Institutions Bureau"},"content":{"rendered":"<h2><b>Financial Services Institutions Bureau\u00a0 Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, the government reconstituted the Financial Services Institutions Bureau.<\/span><\/p>\n<h2><b>About Financial Services Institutions Bureau <\/b><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0<\/span><\/h2>\n<ul>\n<li><span style=\"font-weight: 400;\">It is an <\/span><b>autonomous body of the Government of India<\/b><span style=\"font-weight: 400;\"> set up under the <\/span><b>Department of Financial Services (DFS), Ministry of Finance.<\/b><\/li>\n<li><span style=\"font-weight: 400;\">It replaced the <\/span><b>erstwhile Banks Board Bureau (BBB) in July 2022.<\/b><\/li>\n<li><b>Structure:\u00a0<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">FSIB is <\/span><b>headed by a chairman<\/b><span style=\"font-weight: 400;\">, a central government nominee.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The board comprises the <\/span><b>Secretaries of the DFS, the chairman of IRDAI, and a deputy governor of the RBI.\u00a0<\/b><\/li>\n<li><span style=\"font-weight: 400;\">Additionally, it will have three <\/span><b>part-time members<\/b><span style=\"font-weight: 400;\"> who are experts in banking and three more from the insurance sector.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><b>Functions of Financial Services Institutions Bureau<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To <\/span><b>recommend persons<\/b><span style=\"font-weight: 400;\"> for appointment as whole-time directors (WTDs) and <\/span><b>non-executive chairpersons (NECs) <\/b><span style=\"font-weight: 400;\">on the <\/span><b>Boards of Directors in Public Sector Banks<\/b><span style=\"font-weight: 400;\">, <\/span><b>financial institutions and Public Sector Insurers<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To <\/span><b>advise the Government<\/b><span style=\"font-weight: 400;\"> on matters relating to appointments, transfer or extension of term of office and termination of services of the said directors;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To advise the Government on the desired management structure at the Board level for PSBs, FIs and PSIs;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To advise the Government on a suitable performance appraisal system for WTDs and NECs in PSBs, FIs and PSIs;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To advise the Government on formulation and <\/span><b>enforcement of a code of conduct and ethics<\/b><span style=\"font-weight: 400;\"> for <\/span><b>whole-time directors in PSBs, FIs and PSIs;<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To advise the Government on evolving suitable training and development programmes for management personnel in PSBs, FIs and PSIs;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To help PSBs, FIs and PSIs in terms of developing business strategies and capital raising plan etc.<\/span><\/li>\n<\/ul>\n<p><b>Source: <\/b><strong><a href=\"https:\/\/www.thehindubusinessline.com\/money-and-banking\/financial-services-institutions-bureau-to-be-headed-by-scl-das-former-secretary-msme-ministry\/article71595578.ece\" target=\"_blank\" rel=\"nofollow noopener\">BL<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Services Institutions Bureau is an autonomous body of the Government of India set up under the Department of Financial Services (DFS), Ministry of Finance.   <\/p>\n","protected":false},"author":5,"featured_media":129718,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[10971],"class_list":["post-22461","post","type-post","status-publish","format-standard","has-post-thumbnail","category-upsc-prelims-current-affairs","tag-financial-services-institutions-bureau","no-featured-image-padding"],"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/22461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=22461"}],"version-history":[{"count":3,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/22461\/revisions"}],"predecessor-version":[{"id":129547,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/22461\/revisions\/129547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/129718"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=22461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=22461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=22461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}