The Appointments Committee of the Cabinet (ACC) has approved the appointment of senior cooperative leader and Sahakar Bharati founder Satish Marathe as a part-time member of the Financial Services Institutions Bureau (FSIB), marking an important development for the cooperative banking sector.
Marathe has been appointed under the ex-bankers category, alongside former State Bank of India Managing Director Arijit Basu. Former RBI Executive Director Ramanathan Subramanian has been appointed under the former regulators category.
The ACC has also approved the appointment of retired IAS officer Subhas Chandra Lal Das as part-time Chairperson of the FSIB for a three-year term, effective from the date of notification or until further orders.
Marathe’s appointment is particularly significant given his longstanding association with India’s cooperative movement and his role in strengthening the cooperative banking ecosystem. As the founder of Sahakar Bharati, he has been actively associated with initiatives aimed at promoting and strengthening cooperative institutions across the country.
His inclusion in the FSIB brings the experience of a veteran cooperative banking leader to a key institution responsible for recommending candidates for senior leadership positions in public sector banks and financial institutions.
The Financial Services Institutions Bureau (FSIB) is an autonomous body established by the Government of India to select and recommend suitable candidates for senior leadership positions, including Managing Directors and Executive Directors, in Public Sector Banks, public sector financial institutions and insurance companies.
