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Date : Sep 20, 2022
Chief Executive Officer (CEO) for Indian Financial Technology and Allied Services (IFTAS)

1. IFTAS - The Company (www.iftas.in)

Indian Financial Technology and Allied Services (IFTAS), a wholly owned subsidiary of Reserve Bank of India is registered under the Companies Act, 2013. IFTAS provides critical infrastructure services to RBI, banks, cooperative societies and other financial institutions. The services provided are:

  • Indian Financial Network (INFINET), a closed user group MPLS network for banking and financial sector.

  • Structured Financial Messaging System (SFMS), a messaging system facilitating RTGS, NEFT, Government payments and receipts, etc.

  • Indian Banking Community Cloud (IBCC), providing CBS and other software applications such as SFMS, mobile banking, etc. as web service/s.

  • Global Interchange for Financial Transactions (GIFT), an integrated payment & settlement system based on open-source technology stack.

2. Job Profile

  • Provide strategic, financial, and operational leadership for IFTAS.

  • Align objective and growth path of IFTAS in a manner that support Reserve Bank's objective of adoption and absorption of IT in the Bank.

  • Ensure quality support for payment system infrastructure and INFINET.

  • Support in implementation of various RBI projects in a manner that optimizes cost as also timelines.

  • Trigger new initiatives and innovation by propagating emerging technology products and services in IT and Payment systems in consultation with Reserve Bank.

  • Oversee daily administrative and operational functions of IFTAS.

  • Lead employees to encourage maximum performance and dedication.

  • Assist the Board to fulfill its governance function and maintain accountability with the Board.

  • Maintain good liaison with RBI officials.

3. Eligibility

a) Age: Preferred age would be less than 55 years as on the date of advertisement. In deserving cases, RBI shall have the discretion to go up to the age of 60 years at the time of application.

b) Educational Qualification:

  • Engineering degree (B.E./B.Tech.) in Information Technology or related subjects like Computer Science/ Electronics and Communication or equivalent.


    Post Graduate degree in IT related subjects such as Computer Science/ Applications or equivalent.


    Bachelor’s degree in Computer Science /Applications or equivalent followed by a Post Graduate degree in Management.

  • All degrees should be from a recognized educational institute.

  • In deserving cases, experience as head of IT in a medium/large organization for 3 to 5 years may be factored into as an alternative.

c) Experience:

  • 18+ years of experience in IT/BFSI, which should include at least 5 years in a CXO level leadership role.

  • The experience should delineate the knowledge of development, implementation and management of Information Technology related projects.

  • Knowledge in IT networks shall be an added advantage.

4. Term

  • The appointment of CEO will be on contract basis for a duration of three (3) years extendable on mutual agreement.

  • The contract may be terminated by giving three months’ notice by either side.

5. Compensation and Posting

Compensation will match the best level in the industry and will not be a constraint for the right candidate. The place of posting will be Mumbai.

6. How to apply

Interested candidates may apply by giving their detailed resume in the prescribed format by sending email to ceo-iftas@kornferry.com. The filled-up application form along with the signed declaration shall be sent via email. The application will be held in strict confidence.

Only those applications filled in its entirety in prescribed format and soft copy of which is received not later than 18:00 Hrs. on October 11, 2022 will be considered.

7. General rules/instructions

i) Applicant should strictly conform to the format of the application as prescribed here; Applications should not be handwritten except for the signatures; All pages to be signed by the applicant. “Arial font, size 12” should be used all through the document. The typed application must be saved and sent in PDF format only.

ii) Self-attested copies of the appropriate documents should be submitted along with the application that will:

  1. Provide proof of age.

  2. Clearly demonstrate the eligibility of experience. (Illustratively, this could include: Experience Certificates from the past and current employers, appointment letters, pay or salary slips in order to verify the date of joining and relieving, designation at the time of joining, date of promotion with designation, if any)

  3. Provide proof of educational / professional qualifications & certifications

iii) Candidature will be considered on the strength of the information declared in the application and the copies of certificates/ documents submitted therewith.

iv) A recent photograph is to be affixed at the appropriate place and signed across.

v) Processing of applications received from eligible applicants presently in service of Govt./Quasi-Govt/Public Sector/Parastatals will be considered only if applications are accompanied by a letter from the current employer containing:

  1. Commitment that if the applicant is recommended for appointment as CEO, IFTAS, a discharge certificate from the employer will be made available.

  2. Vigilance clearance certificate that no proceedings are either pending or contemplated against the officer concerned.

  3. List of all the major / minor penalties imposed on the candidate or, otherwise, a certificate confirming that no penalty has been imposed on the officer during service.

vi) Applications which meet the eligibility criteria will be further subjected to shortlisting based on the criteria established by the Search-cum-Selection Committee constituted by RBI for the purpose.

vii) Shortlisted applicants will appear for interactions with the Search-cum-Selection Committee on prescribed date after a communication through the email provided in application form.

viii) Based on the interactions, the Search-cum-Selection Committee will submit its recommendation.

ix) Individual privacy concerns of the applicants will be ensured by the Bank to the extent possible.