Mr Sushil Munhot, Executive Director, IDBI Bank, has been appointed as Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI). The No. 1 position in SIDBI has been vacant since early July 2010, as Mr R. M. Malla was appointed CMD of IDBI Bank
. A textile engineer-cum-business-school graduate, Mr Munhot has been with IDBI Bank for 28 years. He has handled diverse portfolios, including project finance, treasury, retail banking, capital markets, agriculture, and risk management.