Page 29 - Banking Finance April 2016

NEW APPOINTMENTS

Ex-CAG Vinod Rai to head Banks Board Bureau

The government has announced the appointment of Vinod Rai, former Union comptroller and auditor
general, the first chairman of the proposed Banks Board Bureau (BBB). The appointment came about
32 months after Rai retired as CAG, a stint during which he exposed major scams under the previous
United Progressive Alliance (UPA) government.

Vinod Rai The approval for Rai for the BBB comes when PSBs are struggling with a high and rising level of non-
performing assets (NPAs) and with capitalisation concerns. The collective gross NPAs of state-run
lenders are approaching Rs 4 lakh crore.

Shankar Garigiparthy appointed as Country Manager for Lloyd India Shankar
Garigiparthy
Lloyd's announces the appointment of Shankar Garigiparthy as Country Manager for India. In this new
role Shankar will be responsible for market development, representing Lloyd's in discussions with
regulators and building business relationships as Lloyd's seeks to grow its presence in India.

Shankar brings over 23 years' experience in financial services to the role and was most recently
Regional Compliance Manager for Lloyd's based in Singapore. Prior to this, Shankar was Director of
Insurance Supervision at the Qatar Financial Centre Regulatory Authority, where he set up the
regulatory framework for insurance companies in the QFC.

U K Sinha U K Sinha's term as SEBI chief extended till 2017

The Centre has extended for the second time UK Sinha's term as Chairman of Securities and
Exchange Board of India. Sinha was appointed the market regulator in 2011 for a three - year term,
which was extended by two years in 2014.

Sinha's three predecessors - CB Bhave, M Damodaran and GN Bajpai - had three- year terms. Sinha
has got an extension till March 2017.

Mr. V P Nandakumar elected Chairman of CII's Kerala State Council

Mr. V.P. Nandakumar, MD and CEO of Manappuram Finance Ltd., has taken over as the new
Chairman of CII's Kerala State Council for the year 2016-17. He was elected to the prestigious position
at the CII annual members meet held at Kochi.

Mr. Nandakumar has been closely associated with the CII as the Vice Chairman of its Kerala State
Council for the period 2015-16. He is also associated with various other industry bodies and is a
managing committee member of the Finance Industries Development Council (FIDC), Mumbai. V P Nandakumar

Ramadorai retires as BSE Chairman

S Ramadorai has retired from the position of BSE chairman and would be replaced by public interest
director Sudhakar Rao. Ramadorai was appointed as public interest director and chairman of the
BSE Board in March 2010 and retired after serving BSE for six years.

S Ramadorai

BANKING FINANCE | APRIL | 2016 | 29