NEW DELHI: The Union finance ministry is inviting applications, for the third time, for the post of managing director of public sector company India Infrastructure Finance Company Ltd (IIFCL) since they have failed to find a suitable candidate from the two earlier occasions.
According to a public notice calling for applications, 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 institutions or other public sector organisations, with three years of 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, the notice said.
According to the government notice, 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.
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 Union government had first invited applications for the job as early as May 2017, but could not find a suitable candidate. After the first failure, the government again floated invitations for applications last year.
However, the government-appointed panel which interviewed candidates for the post in March 2019 did not find anyone suitable to lead the organisation.The last date for submitting application for the post is June 24, 2019.