Mukherjee Tipped As Banking Secy

In another development, J V Shetty, chairman and managing director of Canara Bank, will join as a full time director of the National Institute of Banking Personnel Services (NIBPS) and A K Bakshi, chief executive officer and secretary of the Indian Banks' Association (IBA), will head the Indian operations of Dubai-based Dfiance group of companies. Both Shetty and Bakshi will take up their new assignments next week.

K R Rammurthy, chairman and managing director of Corporation Bank, is likely to succeed S K Soni, as deputy chairman of IBA. Soni will retire as chairman-cum-managing director of the Delhi-based bank next month.

The post of the secretary, banking division, will be vacant in September following the appointment of present secretary Y V Reddy as deputy governor, Reserve Bank of India.

Reddy will replace S S Tarapore, the senior most among the deputy governors. As an economist, Reddy's specialisation is in monetory policy and exchange rate management