Finmin wants a Deputy MD’s post in IDBI

The finance ministry is understood to be in favour of creation of a new post christened as the deputy managing director in IDBI. The IDBI board is expected to take up this proposal this week. According to sources, the senior most executive director of IDBI Godbole is the front runner for the new post. While, Damodaran continues to hold temporary charge of IDBI, apart from holding charge at UTI, his tenure is expected to be over shortly. The government plans to hold a fresh hunt for the IDBI chief and has expressed its willingness to put a banker, if need be from the private sector, at the helm of affairs in IDBI, sources in North Block added. The entire process for a new top management in IDBI is expected to kick off by next week, sources said.