The Hindu Business Line : Shetty is new IDBI chairman; Khandelwal to head BoB

IDBI and Bank of Baroda have new chiefs at their helm. The Government has cleared the appointments of Mr V.P. Shetty as the new Chairman of IDBI and Dr Anil K. Khandelwal as the Chairman and Managing Director of Bank of Baroda. Both the new chiefs are expected to have a term of around three years.

Prior to his latest appointment, Mr Shetty was the CMD of Canara Bank. He will take over at IDBI from Mr J.N. Godbole, Whole-time Director.

Mr Godbole was assigned the responsibility of heading the bank in the interim when its erstwhile Chairman, Mr M. Damodaran, was appointed head of the SEBI.

Mr Shetty, who has been the CMD of United Commercial Bank, began his career in Canara Bank and later joined Vijaya Bank in 1973.

He worked in several capacities in the bank before becoming General Manager.

He later moved to UCO Bank as Executive Director and later assumed the responsibility of CMD of UCO Bank in October 2000. He took over as CMD of Canara Bank in November 2004.

Prior to his latest appointment, Dr Khandelwal was CMD of Dena Bank for a year.

He had earlier served for three decades in Bank of Baroda in various capacities before rising up to the rank of Executive Director.

Dr Khandelwal is a graduate in chemical engineering.

He is also an MBA and holds a Ph.D in Management.

He is also on the board of New India Assurance Company and the Agriculture Finance Corporation. He is also Chairman of the Board of Governors, Academy of HRD.

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