The Financial Services Institutions Bureau (FSIB) has recommended the name of Monika Kalia for the position of Deputy Managing Director (CFO) in the National Bank for Financing Infrastructure and Development (NABFID).

B.S.Venkatesha has been recommended to the position of DMD (Chief Risk Officer) in NaBFID. While Kalia is an Executive Director at Bank of India, Venkatesha was till recently Chief Risk Officer at Union Bank of India.

FSIB had on August 1 and 5 interacted with 13 candidates for deciding on the names to be recommended for the position of three DMDs in NaBFID. The three DMD positions are Deputy Managing Director (Chief Financial Officer),  Deputy Managing Director (Chief Risk Officer-CRO) and Deputy Managing Director (Lending & Project Finance). 

While names for two DMDs have been recommended, FSIB has however for the post of DMD (L&PF) decided to recommend to NaBFID to take suitable measures to enhance the choice of candidates. 

It maybe recalled that FSIB had, in July, this year recommended former Union Bank Chief Rajkiran Rai for the position of Managing Director at NaBFID.

NaBFID was set up recently 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.

NaBFID is a newly created development finance institution  (DFI) that 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.