FSIB selects Rohit Rishi for IIFCL MD position

New Delhi, Sep 17 (PTI) FSIB, the headhunter for directors of state-owned banks and financial institutions, has recommended Rohit Rishi for the position of Managing Director of India Infrastructure Finance Company Limited (IIFCL).

Rishi, currently the Executive Director of Bank of Maharashtra, is to succeed PR Jaishankar, who demitted office in May after completing a five-year tenure.

Financial Services Institutions Bureau (FSIB) interviewed six candidates on September 16-17, 2025, for the position of Managing Director (MD) of IIFCL, the Bureau said in a statement.

"Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Rohit Rishi for the position of MD in IIFCL," it said.

Rishi, before becoming Executive Director, was Field General Manager (FGM) in Delhi with Indian Bank.

Besides, FSIB recommended Manikumar Sivaramakrishnan for the position of Deputy Managing Director of state-owned IFCI.

Currently, Sivaramakrishnan is the Chief General Manager of National Bank for Agriculture and Rural Development (Nabard).

IIFCL is a wholly-owned Government of India company set up in 2006 to provide long-term financial assistance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI.

The authorised and paid-up capital of the company stood at Rs 10,000 crore and Rs 9,999.92 crore, respectively, as on March 31, 2025. IIFCL has been registered as an NBFC-ND-IFC with the Reserve Bank of India (RBI) since September 2013 and follows the applicable prudential norms of the RBI.

The final decision on FSIB's recommendation would be taken by the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi.

FSIB is headed by former Secretary, Department of Personnel and Training (DoPT), Bhanu Pratap Sharma.

Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank. PTI DP DP SHW