SCL Das Appointed Chairman of Financial Services Institutions Bureau (FSIB)

On 16th October 2026, the Union government has recreated the Financial Services Institutions Bureau (FSIB), with SCL Das, who is an IAS officer (retired), functioning as the bureau’s chairman. The FSIB is important as it will be involved in giving recommendations about the names of appropriate persons for occupying key posts in public sector banks, financial institutions, and public sector insurance companies.

Who Is SCL Das?

SCL Das is a retired 1992-batch IAS officer who belongs to the AGMUT cadre. He worked as Secretary to the Ministry of Micro, Small and Medium Enterprises (MSME).

As of October 16, 2026, he is the chairperson of the Delhi Electricity Regulatory Commission (DERC).

Das has been appointed chairman of the FSIB by the government for a term of three years. However, his term will begin from the date of the notification of the respective resolution, and not from the date of announcement itself.

Financial Services Institutions Bureau (FSIB)

The Financial Services Institutions Bureau is an institutional setup within the Department of Financial Services (DFS), Ministry of Finance. Its main role is that of recommending suitable candidates for various senior-level appointments in designated public sector financial organizations.

This includes the recommendations of suitable candidates for posts of full-time directors and non-executive chairmen in public sector banks, in addition to other senior-level positions in financial institutions and public sector insurance companies.

The FSIB recommends the candidate and it does not appoint them independently. The appointments take place through the prescribed procedure of the government.

FSIB 2026: Chairman and Members

The government constituted the Bureau again on October 16, 2026, with SCL Das as its chairman and six members part-time.

Position/Category	Name
Chairman	SCL Das
Public sector banks and financial institutions	Arijit Basu
Public Sector Banks and Financial Institutions	Satish Kashinath Marathe
Public Sector Banks and Financial Institutions	Ramanathan Subramanian
Public Sector Insurers	Siddhartha Mohanty
Public Sector Insurers	Neerja Kapur
Public Sector Insurers	T. L. Alamelu

The members fall into two broad categories – public sector banks and financial institutions and public sector insurance companies.

FSIB and Banks Board Bureau: Organizational Background

FSIB has replaced the Banks Board Bureau (BBB) in 2022. BBB was set up in 2016 in order to enhance governance in public sector banks and also to recommend persons for key management positions.

This change has expanded the institutional appointments system to include key leadership positions in public sector banks, financial institutions and public sector insurers.

About Institution Financial Services Institutions Bureau (FSIB)

• Administrative ministry: Department of Financial Services
• Parent ministry: Ministry of Finance
• Predecessor: Banks Board Bureau (BBB)
• Establishment of BBB: 2016
• FSIB replaced BBB: 2022
• Key function: Recommendation of persons for senior leadership positions
• New Chairman (2026): SCL Das
• Reconstitution: October 16, 2026