Chakraborti is GM of Balco power plant
Raipur—Arun Kumar Chakraborti is the new general manager of the Balco captive power plant at Jamnipali of Korba district in Chhattisgarh.
The 270-mw capacity BPCC is under the management of National Thermal Power Corporation, which had announced the appointment of Chakraborti recently to succeed J Jha.
Chakraborti earlier served the National Fertilizers and Durgapur Projects before joining NTPCc in January 1981.
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Sobti of ABN AMRO quits
Mumbai—Romesh Sobti, the country representative for India for ABN-AMRO Bank, has resigned.

He is to join Development Credit Bank as managing director & CEO in the next 6-8 weeks.
ABN-AMRO Bank has named Vishnu Deuskar as country representative for the bank’s India operations following Sobti’s resignation.
Vishnu Deuskar joined ABN-AMRO almost seven years ago as treasurer for India and heads a subsidiary company —- ABN-AMRO Securities -— as managing director. He will now have to give up this post since he is moving back to the bank.
Sobti was earlier designated country head. In a recent reshuffle of operations the bank redesignated him as country representative. The new structure had significantly diluted his powers.
The restructuring in India, which was undertaken as part of ABN’s global restructuring, has also seen some senior executives in India being elevated to shoulder higher responsibilities in the Asia-Pacific region.
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Dave to advise IRDA on pension schemes
New Delhi—Former UTI chief SA Dave has been invited by the Insurance Regulatory and Development Authority to advise it on private sector role in the pension sector.
The insurance watchdog is undecided on involving companies other than life insurance companies in pension sector reforms.
IRDA has been given a time till October to come out with its suggestions. The Dave committee (also known as Project Oasis) had recommended a parallel pension scheme for the unorganised sector, creation of an autonomous regulatory authority to oversee the functioning of the pension system called the Indian Pensions Authority and the replacement of public provident fund with a new scheme.
The new scheme should revolve around entrusting the task of managing the funds to six professional fund managers under the regulatory purview of IPA, the committee had suggested.
The PFMs would manage the funds of the individuals under their direction.

Suggesting wide-ranging reforms, the committee also has proposed creation of a new PPF-2 scheme to replace the existing one, saying it has numerous flaws.
The committee has said that all fresh accretions to the PPF scheme should be stopped after meeting the existing commitments. A new scheme called PPF-2 should be announced.
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Parekh may file defamation case against BoI
Mumbai--Ketan V Parekh says he will not accept the blame for manipulating the stock market. He also says that there was no scam and that his firm got carried in taking a bullish view on the markets for which it paid the price. Parekh was released on bail on May 21.
Clearing the Rs 137 crore liability of the Madhavpura Mercan- tile Cooperative Bank is high on his list of priorities.
He is also contemplating filing a Rs 5,000 crore case against the Bank of India saying that the bank has suppressed facts and portrayed a picture which gives a totally distorted view of the actual circumstances.
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