IDBI revamps brass, fails to fill top slot
MumbaiThere have been a number of changes on the board of the of the Industrial Development Bank of India (IDBI).

While the chief general manager (CGM) S G Gulati has been promoted to the post of executive director, S K Kapur, who was appointed the wholetime director on August 1, has been made the chairman-in-charge.
According to sources, the board was not in favour of making Kapur the acting chairman-cum-managing director (CMD) and he was appointed the deputy managing director, he could not be designated the acting CMD.
Sources said the board did not have any power to appoint a CMD or an acting CMD and the power rested only with the government.
National Housing Bank (NHB) chairman P P Vora is the front-runner for the CMD's post in IDBI and candidature has been stuck because of some official delay with the Central Vigilance Commission (CVC) and is expected to be cleared anytime now.

IDBI has been without a full time CMD since G P Gupta retired.
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