B K Taparia Elected Ambi Chief
The Industrial Development Bank of India executive director B K Taparia has been elected as the new Association of Merchant Bank-ers of India chairman yesterday. His election follows the resignation of P V Narsimhmam from the post as within IDBI he was shifted to the project finance department.
According to Ambi sources, B K Taparias name was suggested in the meeting by A K Barwe of SBI Caps and seconded by BoI Finance managing director R V Joshi.
Said a director at Ambi: It was an understanding within Ambi that they will alternate between institutions and private sector every year.
In case of representatives from institutions, it was also understood that transfers in institutions are very common and the immediate successor would be given the job occupied by his predecessor.
The vice-chairman of Ambi is P Chandrahekhar from Erudite Financial Services.