FSIB recommends IFCI's current deputy MD Rahul Bhave for MD, CEO post

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Rahul Bhave for the position of Managing Director (MD) and CEO of IFCI Ltd.

Bhave is currently the Deputy Managing Director of IFCI.

The Financial Services Institutions Bureau (FSIB) interviewed four candidates for the position of MD & CEO of IFCI, FSIB said in a statement.

"Keeping in view their performance in the interface, overall experience and the extant parameters, the Bureau recommends Rahul Bhave for the position of MD and CEO in IFCI Ltd," it said.

Besides, FSIB has recommended Palash Srivastava for the position of Deputy Managing Director in IIFCL.

Srivastava is currently the Chief Executive Officer of IIFCL Projects Limited, a subsidiary of IIFCL.

The final decision on both FSIB's recommendations would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.

FSIB is headed by former secretary, Department of Personnel and Training (DoPT), Bhanu Pratap Sharma.

Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.