Centre Still Undecided About Next IDBI Head

New Delhi, Sept 17: | Updated: Sep 18 2003, 05:30am hrs
The government has yet to make up its mind on who would next head the premier financial institution Industrial Development Bank of India (IDBI), even as the present incumbent PP Vora retires at the month-end.

North Block officials refused to commit themselves, but they did not rule out the possibility of banking secretary NS Sisodia being handed the additional charge. Alternatively, an interim chairman-cum-managing director could be installed till the IDBI corporatisation process was accomplished in totality, they added. Chances of an extension were remote, it is understood.

Interestingly, even as the financial institution concept in the country seems heading towards extinction, Mr Vora is currently in Mongolia, attending a meeting of the Association of Financial Institutions of the Asia-Pacific and returns on Thursday. After a days break, he will fly out to Dubai during the weekend for the World Bank meetings, it is reliably learnt. The government had planned to install a CEO and install a non-executive chairman who would be a man of considerable standing in the financial world to steer the organisation on broad policy issues. To this end it had conducted informal interviews with about 20-odd candidates for the post of CEO.