FSIB, the headhunter for directors of state-owned banks and financial institutions, has invited applications from eligible candidates, including those from the private sector, for the appointment of executive directors of nationalised banks during the current financial year.

Inclusion of candidates from the private sector is a departure from the set procedure, and this is the first time that the Financial Services Institutions Bureau (FSIB) would consider them for selection for more than half a dozen vacancies of EDs expected to be created during the current financial year.

As per the eligibility criteria announced by FSIB, the applicant from the private sector should have at least 18 years of experience, with 12 years of banking experience, including 3 years at the highest level below board level (to be held on a substantive basis).

Candidates who are not from nationalised banks shall be considered as private candidates, FSIB said in a public notice.

Private candidates are required to provide an organogram of the bank in which they have the highest level of experience below board level, clearly indicating their position in the organisation hierarchy, it said, adding that the organogram(s) should be submitted along with the resume.

With respect to candidates from public sector banks, it said, the applicant should have a combined service of 4 years at the Chief General Manager and General Manager levels in nationalised banks.

Candidates holding the post of Chief Vigilance Officer (CVO) would not be considered for appointment to the post.

If an officer has faced two or more major penalties in his/her career, he/she shall not be eligible to apply for the position of ED, nationalised banks, it said.

The penalties imposed, including minor penalties, on the applicants during the last 10-year period shall also be disclosed, it added.

Selection will be based on shortlisting and personal interview, it said, adding that applications received shall be scrutinised and shortlisted for interview based on experience and eligibility conditions.

Final selection of the candidates will be done by the FSIB, and allocation of banks will be done on merit-cum-preference basis for the anticipated vacancies.

The unanticipated vacancies, if any, arising during the FY 2026-27 shall be filled through the panel of candidates in the waiting list created through this selection process, it said.

Published on April 22, 2026

Intellect Design Arena Ltd on Wednesday said its eMACH.ai Payments platform has received the highest rating from Nacha Consulting across all four major US payment rails — TCH RTP, FedNow, Fedwire, and ACH. Shares of fintech firm rose 2.85 per cent to ₹696.80 on the NSE today before the closing bell.

The rating was awarded by the official consulting arm of Nacha, the body that governs the US ACH Network. The assessment covered 72 live payment scenarios across 16 categories and returned zero compliance findings on any rail. Intellect said it commissioned the review voluntarily, not as a regulatory requirement.

The evaluation confirmed full scheme compliance for all ISO 20022 message types used in FedNow, TCH RTP, and Fedwire, including Request to Pay flows, credit transfers, and Fedwire drawdowns. It also validated compliance across ACH processing formats including Same Day ACH, Notice of Change, and Micro-Entries.

Nacha Consulting flagged as a differentiator the platform’s ability to handle instant payments, bulk batch payments, and high-value RTGS payments on a single system.

The announcement follows Intellect’s January 2026 US market launch of eMACH.ai Payments and its inclusion as a Leader in the inaugural Gartner Magic Quadrant for Banking Payment Hub Platforms. The platform is currently deployed across 40 countries, serving over 126 financial institutions including nine central banks.

Despite today’s gain, the stock remains under pressure on a longer horizon, down roughly 26 per cent year-to-date and about 9 per cent over the past year. Its 52-week high stands at ₹1,255, hit in June 2025. Total market capitalisation stands at approximately ₹9,733 crore.

Intellect will showcase the platform at the NACHA Smarter Faster Payments conference in San Diego from April 26–29.

Published on April 22, 2026

The European Commission on Wednesday ​proposed a series ‌of measures to address ​the impact
on ⁠the region’s energy markets from the U.S.-Israeli war ‌with
Iran.

The Commission said the measures – announced ‌in a ‌package
called ‘AccelerateEU’ – ⁠included optimising the ⁠distribution of
jet fuel between EU countries, in order to ​avoid ‌shortages.

“The choices we make today will shape our ability to face
the ‌challenges of today ​and the crises of tomorrow. Our
AccelerateEU ⁠strategy will bring both immediate and ‌more
structural relief measures to European citizens and businesses,”
said European Commission President Ursula von der Leyen.

“We must ‌accelerate the shift to ​homegrown, clean energies.
This will give us ⁠energy independence and security, ⁠and mean we
are better able ‌to weather geopolitical storms,” she added.

Published on April 22, 2026