Export-Import Bank of India is likely to get a person as its chief without any banking experience for the first time. Yaduvendra Mathur,IAS,who is currently chairman and MD of Rajasthan Financial Corporation is leading the race to become the chairman and managing director of Exim Bank.
The search committee of the government interviewed four persons and ignored the claims of many experts. While ECGC executive director Geetha Muralidhars application was rejected on the grounds that she was not on the board of ECGC,MMTCs dud investment in crisis-hit NSEL went against MMTC finance director MG Guptas claim.
However,what has flummoxed top officials of banks and institutions was the way the government invited applications for the Exim Bank CMD post. The government advertisement makes it clear that candidates should not be more than 55 years of age. This stipulation has virtually eliminated the prospects of chairman or MDs or EDs of banks and financial institutions to apply for the post. It will be over 55 by the time you get a post like ED or chairman of a bank, said the chairman of a leading government institution who preferred anonymity.
Bankers were also perplxed by another additional requirement mentioned in the government advertisement which came out in July. Experience in housing,urban and related sectors would be added qualification, it says.