Finance Ministry invites applications for Managing Director post at IIFCL

The last date for submitting application for the post is June 24, 2019. The appointment will be initially for three years and may be extended by up to two years based on performance

The finance ministry for the third time invited applications for the post of Managing Director of India Infrastructure Finance Company Ltd (IIFCL) as they failed to find a suitable candidate on previous two occasions.

The government had first invited application for the job in May 2017, but could not find a suitable candidate. Subsequently, another failed attempt was made last year.

The government-appointed panel, in March (2019), interviewed candidates for the post but did not find any one suitable to lead the organisation.

According to a public notice, the candidate should have at least 25 years of experience as on the date of vacancy (June 12, 2017) in different verticals in commercial banks or financial institution or other public sector organisations with 3 years experience preferably in project finance, credit appraisal and large corporate credit.

Of this, two years of experience should be either at the board level or GM in nationalised banks or CGM in IFCI, SIDBI, IIFCL, Exim Bank, SBI or RBI, it said.

Even officers serving as Joint Secretary or above in the central or at an equivalent in state government with 2 years experience in the field of commercial or industrial finance are eligible, it said.

The appointment will be initially for three years and may be extended by up to two years based on performance up to a maximum age of 60 years.

The last date for submitting application for the post is June 24, 2019.