New Delhi: The finance ministry has begun looking for a replacement for S. S. Kohli, who will retire in April as chairman and managing director of state-owned India Infrastructure Finance Co. Ltd, or IIFCL.
Kohli has headed the firm since it was set up in 2006.
The move comes even as IIFCL, increasingly leading the government’s efforts to increase the availability of debt for India’s burgeoning infrastructure sector, firms up the details of a take-out financing scheme announced in the previous Budget.
The government advertised for the job of chairman and managing director of IIFCL on Monday.
Serving Union government employees and public sector bankers with experience of at least 25 years are eligible to apply. People with at least 20 years in infrastructure, financing or banking can also apply.
The applicants, who must be less than 62 years of age on 10 April 2010, will hold office for an initial term of three years, it said.
S. K. Goel, chairman of UCO Bank, A. C. Mahajan of Canara Bank and K.P. Krishnan, a joint secretary with the ministry of finance, are seen in banking circles as likely contenders, a senior government official said, asking not to be named.
The official added that the relaxed maximum age criteria for applicants could help the two senior bankers.
Goel, who retires in October, declined to comment, while Mahajan could not be reached.