Banks Board Bureau seeks applications for post of SIDBI Deputy MD

Banks Board Bureau, the headhunter for state-owned banks and financial institutions, has invited applications for the post of Deputy Managing Director of public sector financial institution SIDBI.

Banks Board Bureau (BBB), the headhunter for state-owned banks and financial institutions, has invited applications for the post of Deputy Managing Director (DMD) of public sector financial institution SIDBI.

Established in 1990, Small Industries Development Bank of India (SIDBI) is the principal financial institution for promotion, financing and development of micro, small and medium enterprises as well as coordination of functions of institutions engaged in similar activities.

The BBB, headed by former Secretary Department of Personnel and Training B P Sharma, has asked eligible candidates to submit application for the post of DMD by September 15.

As per the eligibility criteria, the maximum age of entry for both internal as well as other candidates will be 55 years as on January 22, 2021, a public notice said.

A candidate should have at least 18 years of experience in different verticals of banks or financial institution with at least 2 years operational experience or exposure preferably in credit appraisal or micro-credit or SME lending, it added.

The public notice further said All-India Service Officers or Central Services Group 'A' officers serving at the level of Director/Director equivalent to Government of India or above with a minimum of 15 years' experience are also eligible to apply for the position.

The officer should at least have 2 years mandatory experience as Director/ Deputy Secretary to Government of India in the field of finance/SME lending/ industrial development/public enterprise management, it added.

DMD, SIDBI, plays a pivotal role to facilitate and strengthen credit flow and addresses the developmental gaps in the MSME eco-system, the notice said.

Based on the interface with the shortlisted candidates, the BBB recommends the selected name to the government for appointment.

On the recommendation of the BBB, Appointments Committee of Cabinet headed by the Prime Minister takes a final decision on the appointment.

Last month, the BBB has also advertised post of Chairman and Managing Director of SIDBI. For CMD position, the last date for sending application August 28, 2020.

The Prime Minister, in 2016, approved the constitution of BBB as a body of eminent professionals and officials to make recommendations for appointment of whole-time directors as well as non-executive chairpersons of public sector banks (PSBs) and state-owned financial institutions.

It was also entrusted with the task of engaging with the board of directors of all PSBs to formulate appropriate strategies for their growth and development.