Finance Ministry seeks applications for post of MDs at IIFCL, IFCI

New Delhi: The Finance Ministry has invited applications of eligible candidates for the post of Managing Directors at India Infrastructure Finance Company Ltd (IIFCL), and IFCI.

The post of MD at the country's oldest financial institution IFCI has been vacant since December 12 while vacancy for the head of IIFCL would arise in June.

Currently, IFCI is being headed by acting Deputy Managing Director Sanjeev Kaushik, a 1992 batch IAS officer of Kerala cadre.

As far as IIFCL is concerned, the government has given 6 months extension to the current Chairman and Managing Director S B Nayar till June who was scheduled to retire in December.

According to a public notice, the eligible candidates are required to send their application by latest by March 20.

The application of eligible candidates would be screen by the Ministry and shortlisted candidates would be interviewed by Banks Board Bureau headed by former CAG Vinod Rai.

The candidate should have at least 25 years of experience as on the date of vacancy in different verticals in commercial banks or financial institution. Of this, 2 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 government of India or at an equivalent in the state government with 2 years experience in the Field of commercial or industrial finance are eligible, it said.

The appointment will be initially for 3 years and may be extended by up to 2 years based on performance.