Govt homes in on heads for 3 institutions

UCO Bank Chairman and Managing Director SK Goel is set to take over as the new chairman of India Infrastructure Finance Company (IIFCL).

Sources close to the development said the appointment of Goel, whose term at the Kolkata-headquartered bank was due to end in a couple of months, had been approved by the government and a notification was expected shortly.

He will replace SS Kohli, whose extended term at the infrastructure finance company came to an end last month. The financial institution’s Executive Director Pradeep Kumar is currently officiating as the chairman and managing director.

The sources also said at least two other appointments were being finalised by the government. RV Verma, executive director at National Housing Bank, is the frontrunner for the post of chairman at the refinance and housing finance regulatory agency.

The government has started the process of appointment afresh due to problems in the first round. For a year, Central Bank of India Chairman and Managing Director S Sridhar has been officiating as NHB chairman.

In addition, sources said a notification regarding the appointment of IDBI Bank Chairman and Managing Director Yogesh Agarwal as the pension regulator was expected soon. Agarwal’s appointment has been approved by the government.

The sources said that SC Gupta, the former chairman and managing director of United Bank of India was set to move to the Board for Industrial and Financial Reconstruction as a member. Canara Bank Chairman and Managing Director AC Mahajan, who also retires this year, is likely to be appointed as a vigilance commissioner. Of the two vigilance commissioners, one post is reserved for a former banker.