IRDA member appointed
Kochi: Mathew Varghese, former general manager of the New India Assurance Co Ltd, has been appointed as a whole-time member of the Insurance Regulatory and Development Authority (IRDA). He will assume duties at IRDA headquarters at Hyderabad on Thursday, a release said.
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Cabinet panel set to clear Damodaran as new IDBI chief
New Delhi: The process of appointing the present UTI chairman, M. Damodaran, as the new Chairman of Industrial Development Bank of India (IDBI) is in its final leg with the Ministry of Finance having recently forwarded the papers proposing his candidature to the Appointments Committee of the Cabinet. Damodaran is now holding additional charge as acting Chairman, IDBI.

The committee is expected to clear the appointment soon. "It would take anywhere between two and three weeks for the appointment to be notified," official sources said. Damodaran's new assignment would be coming at a crucial time for IDBI with the institution's restructuring proposal awaiting the Parliamentary nod. The Bill to restructure the institution into a commercial bank while retaining its intrinsic characteristics of a development financial institution is to be taken up for approval by Parliament during the forthcoming winter session.
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