The Financial Services Institutions Bureau (FSIB) has recommended Samuel Joseph Jebaraj, Deputy Managing Director, IDBI Bank Ltd, for the position of Deputy Managing DIrector (Lending & Project Finance) in the National Bank for Financing Infrastructure and Development (NaBFID), a newly created development finance institution (DFI).
“After interfacing with 12 candidates on November 25, 2022, the Bureau recommends Samuel Joseph Jebaraj for the position of Deputy Managing Director (Lending & Project Finance) in NABFID”, FSIB said in a tweet.
NaBFID has been set up by the government to support the development of long-term non-recourse infrastructure financing, including the development of the bonds and derivatives market necessary for infrastructure financing and to carry on the business of financing infrastructure.
Earlier this year, government had infused ₹20,000 crore into NaBFID.
The three DMD positions in NABFID are Deputy Managing Director (Chief Financial Officer), Deputy Managing Director (Chief Risk Officer-CRO) and Deputy Managing Director (Lending & Project Finance).
In August, FSIB recommended the names of Monika Kalia and B S Venkatesha for the positions of DMD (Chief Financial Officer) and DMD (Chief Risk Officer) respectively.
FSIB had in July recommended former Union Bank Chief Rajkiran Rai for the position of Managing Director at NaBFID.
FSIB was set up as a single autonomous professional body tasked to search and recommend high-caliber persons for appointment as Wholetime directors (WTDs) and non-executive Chairpersons in public sector banks, public sector insurers and financial institutions. FSIB had subsumed the Banks Board Bureau, which now ceases to exist.