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Six CGMs in IDBI Bank promoted as EDs

IDBI Bank has promoted six senior officials in the rank of chief general managers as executive directors as these positions have been lying vacant since long time due to retirements, transfers and elevations. They are A.L. Bongirwar heading IDBI Capital, G.M. Yadwadkar looking after priority sector lending, K.P. Nair in charge of north zone operation, Mythili Balasubramanian, head at south zone, N S Venkatesh, treasury department and P Sitaram, chief financial officer. The bank has not yet allotted portfolios. At one point of time, there were 10 executive directors in the bank. It was later reduced creating the need for six new appointments. K.C. Jani is the latest executive director, who retired from the bank in January 2014. Melwyn Rego was promoted as deputy managing director in 2013. B K Batra is the other DMD. T R Bajalia had moved to SIDBI as DMD in December 2012.

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