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Banks Board Bureau January 08, 2020

Invites applications the post of
Chief Executive Officer and Managing Director in
India Post Payments Bank
(A wholly owned undertaking of the Department of Posts, Govt. of India)

Banks Board Bureau (The Bureau) invites applications from qualified candidates for the post of Managing Director and Chief Executive Officer for India Post Payment Bank (IPPB) on a full time basis. Interested candidates who fulfil the eligibility criteria may apply online on

Or directly through the link

The Last dates for submitting the complete online application is January 31, 2020 by 5:00 pm. Before applying candidates are advised to ensure that they fulfill the stipulated eligibility criteria. This advertisement contains the following details:

Section Section Title Details in Section
A Job Profiles and Competency/ Skill Requirements Details on role of post of CEO/ MD, along with the desired competency/ skill for execution of said role, have been provided.
B Eligibility Criteria Details on the eligibility criteria such as age, educational qualification and experience have been provided. 
C Remuneration  Details of the Remuneration have been provided. 
D Selection Procedure Brief on Selection Procedure has been provided.
E Application Guidelines Guidelines on application submission and other general instructions have been provided.

A. Job profiles and competency/skill requirement

Job Profile of the Post of CEO/ MD of IPPB is as follows:

  1. Define and shape the Vision, Mission and Values for IPPB. 

  2. Leverage the last mile connectivity of DoP to drive business growth and financial inclusion for the organization.

  3. Oversee optimization of operations through appropriate mix of technology and physical touch points across the business operations of IPPB.

  4. Ensure all regulatory and statutory guidelines are adhered to at all times across functions at IPPB.

  5. Identify business partners across sectors such as Telecom, Financial Services etc.

  6. Forge IPPB’s business strategy and business plan (balancing commercial goals with financial inclusion goals).

  7. Oversee definition of IPPB’s product roadmap, product innovation and partnership with merchants, educational institutions, utilities etc.

  8. Anticipate and respond to the payments and financial inclusion ecosystem, competitive landscape and market trends.

  9. Manage cross-functional constraints and conflicts and provide resolutions as and when required.

B. Eligibility criteria

1. Nationality/ Citizenship

A candidate must be either                                                                                                                                               

  1. a citizen of India or 

  2. a subject of Nepal or

  3. a subject of Bhutan or 

  4. a Tibetan refugee who came over to India before 1st January, 1962 with the intention of permanently settling in India or 

  5. a person of Indian origin who has migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania (formerly Tanganyika and Zanzibar), Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India

Provided that a candidate belonging to categories (ii), (iii), (iv) and (v) above shall be a person in whose favor a certificate of eligibility has been issued by the Government of India. 

A candidate in whose case a certificate of eligibility is necessary may be admitted to the Interviews, may be provisionally selected, but on final selection, the offer of appointment may be given only after the necessary eligibility certificate has been issued to him by the Government of India.

Please note that the eligibility criteria specified herein are the basic criteria for applying for the post. Candidates must necessarily produce the relevant documents pertaining to nationality, age, educational qualifications etc. in original along with a photocopy thereof in support of their identity and eligibility. 

Merely applying for / being shortlisted / appearing for the Interview and/ or subsequent processes does not imply that a candidate will necessarily be offered employment in IPPB. 

2. Job Specifications

The Age, Qualification and Experience as on 01.04.2020 for the Post of CEO/ MD are prescribed as under: 

Sr Function Post Job Specifications (Age, Minimum Qualification and Experience as on 01.04.2020)
1 Corporate  Chief Executive Officer Age Limit:  Atleast 40 years and not more than 55 years as on 1.4.2020

Minimum Educational Qualification:

Graduate from University/ Institution/ Board recognized by the Government of India (or) approved by a Government Regulatory Body.


• MBA from University/ Institution/ Board recognized by the Government of India (or) approved by a Government Regulatory Body, is preferred.

• CAIIB Certification is preferred.

Post Qualification Experience:  

Minimum 15 years of experience in financial services (retail banking or electronic payment services or digital banking) is mandatory.


Minimum 1 year of experience at CXO level in retail banking (or) electronic payment services (or) digital banking is mandatory. 

C. Tenure, Remuneration and Allowances

1. Tenure

The term of office of the holder of post shall be for 5 years subject to the age of superannuation as 60 years. The term may be further extended by a further period of 5 years after reviewing performance.

2. Remuneration

  • Fixed component of the compensation will be in line with compensation of MD of Public Sector Banks/ Additional Secretary of GoI.

  • In addition he/ she will be eligible for variable pay as determined by the IPPB Board on the lines of Public Sector Banks/ CPSEs.

3. Leave, travel allowance

The leave and travel allowance will be as per Service Rules of IPPB applicable at the time of appointment.   

D. Selection procedure

Selection will be based on Shortlisting and Personal Interview.  Applications received shall be screened and shortlisted on the basis of experience and eligibility conditions. The candidates may be called for preliminary interactions for the purpose of determining their eligibility. Adequate number of candidates will be shortlisted based on their qualification, experience and overall suitability for Interview. Final selection of the candidate will be done by the Bank Board Bureau (BBB). 

E. Application guidelines

1. Application Procedure

All applicants are required to apply online only by submitting the details and scanned copies of the relevant documents. The link to the application is The same link is also available on the BBB website under vacancies tab.


2. Documents

The following documents in original, may be called for by the BBB. The same may be uploaded in the online application form under the relevant section.

  1. Resume

  2. Photo Identify Proof such as Passport/ Aadhaar/ e-Aadhaar Card/ PAN Card/ Driving Licence/ Voter's Card

  3. Mark sheets & certificates for educational qualifications

  4. Work Experience: Documentary proofs such as Experience Certificates from past and current employers, Appointment letters, Relieving Letters, Pay or Salary Slips to verify the date of joining and relieving, designation at the time of joining, date of promotion with designation, if any

  5. Candidates serving in Government / quasi Government offices/ Public Sector Undertakings (including Nationalised Banks and Financial Institutions) are required to upload a “No Objection Certificate” from their employer. 

  6. Any other relevant documents in support of eligibility

3. Action against candidates found guilty of misconduct

Candidates are advised in their own interest that they should not furnish any particulars/ details/ information or make statements that are false, incorrect, tampered, fabricated and should not conceal or suppress any material information while filling up the application form and submitting the attested copies of testimonials. In case it is detected at any time that the candidate has indulged in any of the above mentioned activities, he/ she will not only be disqualified, but he/ she will also be liable to be dismissed from the services of IPPB at any time, even after being selected and after joining IPPB in service. At the time of Interview, if a candidate is (or has been) found guilty of:

i) Using unfair means during the selection process, or

ii) Impersonating or procuring impersonation by any person, or

iii) Misbehaving in the Personal Interview or 

iv) Resorting to any irregular or improper means in connection with his/ her candidature, including resorting to canvassing for his candidature, or obtaining support for his/ her candidature, by any means, such a candidate may, in addition to rendering himself/ herself liable to criminal prosecution, shall also be liable:

  1. To be disqualified from the selection process for which he/ she is a candidate; 

  2. To be debarred, either permanently or for a specified period, from any recruitment conducted by IPPB.

4. General eligibility

The appointment of selected candidates may be subject to their being declared medically fit by a doctor or a panel of doctors.

5. General instructions

  1. Candidates should satisfy themselves about their eligibility for the post applied for.

  2. Candidates serving in Govt./ Quasi Government offices, Public Sector Undertakings, including Nationalised Banks, and Financial Institutions are advised to submit ‘No Objection Certificate’ from their employer at the time of Interview, failing which their candidature may not be considered and travelling expenses, if any, otherwise admissible, will not be paid.

  3. In case of selection, candidates will be required to produce proper discharge certificate from the employer at the time of taking up the appointment.

  4. Candidates are advised in their own interest to send their resumes to the mentioned address much before the closing date and not to wait till the last date. 

  5. BBB does not assume any responsibility for the candidates not being able to submit their applications within the last date on account of aforesaid reasons or for any other reason beyond the control of BBB.

  6. In case it is detected at any stage of recruitment that a candidate does not fulfil the eligibility norms and/ or that he/ she has furnished any incorrect/ false information or has suppressed any material fact(s), his/ her candidature will stand cancelled. If any of these shortcomings is/ are detected even after appointment, his/ her services are liable to be terminated.

  7. Candidates are advised to keep their e-mail ID alive for receiving advices, viz. Call Letters/ Interview date advices etc.

  8. Decisions of BBB in all matters regarding eligibility, conduct of Interview, other tests and selection would be final and binding on all candidates. No representation or correspondence will be entertained by BBB in this regard.

  9. Appointment of selected candidate is subject to the service and conduct rules of IPPB for such post in IPPB, in force at the time of joining IPPB.

  10. Any legal proceedings in respect of any matter of claim or dispute arising out of this advertisement and/ or an application in response thereto can be instituted only in Mumbai and courts/ tribunals/ forums at Mumbai only shall have sole and exclusive jurisdiction to try any cause/dispute. 

  11. Candidates called for Interview will be paid Airfare (Economy Class)/ I-AC railway fare on production of actual bills.

6. Announcements

All further announcements/ details pertaining to this process will only be published/ provided on BBB authorized website from time to time.

7. Disclaimer

In case it is detected at any stage of recruitment that a candidate does not fulfil the eligibility norms and / or that he / she has furnished any incorrect / false information or has suppressed any material fact(s), his /her candidature will stand cancelled. If any of these shortcomings is / are detected even after appointment, his /her services are liable to be terminated. Decisions of BBB in all matters regarding eligibility, other tests and selection would be final and binding on all candidates. No representation or correspondence will be entertained by BBB in this regard.

Banks Board Bureau