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BBB recommends S Ramann for post of SIDBI chairman & managing director

The Banks Board Bureau BBB, the headhunter for state-owned banks and financial institutions, on Saturday recommended S Ramann and Shivendra Tomar for the posts of CMD and MD of SIDBI and IFCI, respectively.

PTI | New Delhi | Updated: 05-12-2020 17:48 IST | Created: 05-12-2020 17:29 IST
BBB recommends S Ramann for post of SIDBI chairman & managing director
Representative image Image Credit: Pixabay

The Banks Board Bureau (BBB), the headhunter for state-owned banks and financial institutions, on Saturday recommended S Ramann and Shivendra Tomar for the posts of CMD and MD of SIDBI and IFCI, respectively. The members of the Banks Board Bureau interviewed 20 candidates on December 4 and 5, 2020 for the vacancy of chairman and managing director (CMD) of Small Industries Development Bank of India (SIDBI), the BBB said in a statement. "Keeping in view their performance in the interview and their overall experience, the bureau recommends S Ramann for the position of chairman and managing director in SIDBI," it said. Ramann, 1991-batch Indian Audit & Accounts Service officer, is currently CEO of National E-Governance Services Limited (NeSL), India's first Information Utility. Besides, the Bureau recommended Shivendra Tomar for the post of MD and CEO of IFCI. Tomar, currently, is managing director of IFCI Venture Capital Funds Ltd, a subsidiary of IFCI. As many as five candidates appeared for the position of MD of IFCI. BBB is headed by former Department of Personnel and Training Secretary B P Sharma.

The government in 2016 had approved the constitution of BBB as a body of eminent professionals and officials to make recommendations for appointment of whole-time directors as well as non-executive chairpersons of public sector banks (PSBs). It was also entrusted with the task of engaging with the board of directors of all PSBs to formulate appropriate strategies for their growth and development.

Besides, it was asked to frame strategy discussion on consolidation based on requirement. The government wanted to encourage bank boards to restructure their business strategy and also suggest ways for their consolidation and merger with other banks..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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