K Sivaprakasam, executive director, IDBI, has been appointed managing director of CARE with effect from October 12, 2005.

Sivaprakasam, a chartered accountant, cost accountant with a degree in law is also an associate of the Indian Institute of Bankers. Sivaprakasam has held the chairmanship of various important in-house committees of IDBI and served as an IDBI nominee on the boards of a number of companies and institutions.