← 18 October 2026's Current Affairs · Economy GA Prelims ★★★★☆ Mains ★★★☆☆
Government reconstitutes Financial Services Institutions Bureau, names SCL Das chairman
Why in News?
Government reconstitutes Financial Services Institutions Bureau, names SCL Das chairman
FSIB, the successor to the Banks Board Bureau, was reconstituted with SCL Das as chairman.
Why it matters: factual, Prelims-type
What you need to know
2 min read
The government reconstituted the Financial Services Institutions Bureau on 16 October 2026 and appointed SCL Das, a retired Indian Administrative Service officer, as its chairman.
The Bureau recommends appointments of heads of public sector banks, financial institutions and public sector insurers.
It was set up as the successor to the Banks Board Bureau.
Sources: Topper IAS editorial (PIB / The Hindu / Indian Express)
Key facts
Remember these
- FSIB
- Banks Board Bureau
- banking appointments
Prelims · Mains
How the exam will ask it
Prelims
- FSIB, Banks Board Bureau, banking appointments
Mains
Use as an example in GA answers (GS-III: Banking; GS-II: Governance).
Quick recall
Answer before you reveal
The Financial Services Institutions Bureau (FSIB), reconstituted in October 2026, is the successor to which earlier body that recommended the heads of public sector banks?
- Public Enterprises Selection Board
- Financial Stability and Development Council
- Banks Board Bureau
- Appointments Committee of the Cabinet
Show answer
Answer: C — The correct answer is the Banks Board Bureau, whose functions of recommending heads of public sector banks and financial institutions passed to the FSIB.
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