FSIB Board recommended Mr. Manoj Mittal as CMD of SIDBI

The Managing Director and Chief Executive Officer (CEO) of IFCI, Manoj Mittal, has been recommended for the position of Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI), the Union Government revealed on Wednesday, April 10.

The Financial Services Institutions Bureau (FSIB) has recommended the name of Mittal for the position, because of the comprehensive experience in the design, management and versatile personality in evaluating various sustainability and developmental programs funded by multilateral agencies of the Government of India.

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Earlier also, he worked as a Deputy Managing Director at SIDBI between January 2016 and January 2021. 

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He was closely involved in the development of SIDBI Vision 2.0 and its successful implementation to emerge as a financially stronger impact institution.

He had played a lead role in restructuring the dues of banks to microfinance institutions (MFIs) during the Andhra Pradesh MFI crisis in 2010 and in the implementation of responsible lending initiatives.

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