Manoj Mittal has taken over as Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI), following his nomination by the Centre.
Prior to this, Mittal was the managing director of the Industrial Finance Corporation of India.
Mittal has over 33 years of experience in the financial services sector, having previously served as MD and CEO of IFCI and Deputy Managing Director of SIDBI, according to an official release.
SIDBI was founded on April 2, 1990, by an Act of the Indian Parliament. It is designated as the Principal Financial Institution in charge of carrying out the triple objective of promoting, funding, and developing the MSME (micro, mini, and medium enterprises) sector, as well as coordinating the functions of numerous institutions involved in similar activities.