Former Bank of Maharashtra chairman Anup Sankar Bhattacharya has taken over as the director of Institute of Banking Personnel Selection or IBPS, which conducts common admission tests for bank recruitment.
Bhattacharya will replace M Balachandran who’s term ends today.
The importance of IBPS has grown in recent years after the abolition of Banking Services Recruitment Board. It handled a whopping 15 million applications in 2011-12 while it boasts of having a capacity of testing one million candidates simultaneously across 200 centres in one session.
Bhattacharya told ETthat he has stepped down from the advisory board of Central Vigilance Commission where he was a member for last three months to take up the full-time responsibility at IBPS.
All nationalised banks have last year mandated this independent entity to hold the common written test as the first step to get enrolled into government banks. IBPS conducts separate tests for State Bank of India and its associate banks.
An internal search committee comprising Reserve Bank of India executive director R Gandhi and State Bank of India chairman Pratip Chaudhuri has selected Bhattacharya for three years over other retired government bank chairmen who took superannuation recently.
A director at IBPS enjoys the remuneration and benefits similar to a government bank chairman. Bank of Baroda chairman and managing director MD Mallya is the chairman of its governing board.
Bhattacharya spent the first 37 years of his banking career at Kolkata-headquartered United Bank of India before joining Indian Bank as executive director in 2004. He joined Bank of Maharashtra in October 2010 for a 16-month stint.