The appointment of a new Industrial Development Bank of India chairman seems to be going around in circles with the selection committee for the post slated to meet here tomorrow to chalk out the new course of action.
Sources told Business Standard that the selection panel had at its last meeting decided to consider about half-a-dozen senior bankers, who had over two years to retire, as candidates for the top post.
They added that five candidates had also been shortlisted and the selection panel members would now decide whether the candidates along with the 14 shortlisted earlier would be interviewed afresh or a panel of names would simply be prepared and sent to finance minister Yashwant Sinha for clearance.
The selection committee comprises Reserve Bank of India governor Bimal Jalan, his deputy SP Talwar, finance secretary Ajit Kumar and special secretary banking division Devi Dayal, among others.
The appointment process has been riddled with controversy with the panel first recommending the appointment of Industrial Investment Bank of India (IIBI) chairman Basudev Sen whose candidature was shot down by the finance minister.
VP Singh, at present executive director in IDBI, being the senior-most applicant from the FI, then emerged as the top runner for the post but Cabinet secretary TR Prasad then raised objections about the appointment process.
Of the 30-odd candidates who had applied for the post of chairman, 14 had been shortlisted and interviewed by the panel and IIBI
