Union Government appoints Sriram Kalyanaraman as MD and CEO of NHB

Union government has appointed Sriram Kalyanaraman as the Managing Director (MD) and Chief Executive Officer (CEO) of National Housing Bank (NHB) for a period of five years.
With this he became the first person from private sector to be appointed as head of a public sector financial institution.
Presently, Kalyanaraman is director-business development Equifax Credit Information Services.  Prior to joining Equifax, he was Director, Business Clients and Asset Products at Deutsche Bank India.

About National Housing Bank (NHB)

• NHB is apex regulator for housing finance sector and a wholly owned subsidiary of Reserve Bank of India (RBI).
• Established: in 1988 under the National Housing Bank Act, 1987.
• It is a principal agency to promote housing finance institutions at local and regional levels. It also provides financial and other support to institutions related to this sector.
• Function: Register, regulate and supervise Housing Finance Company (HFCs) and keep surveillance on them through On-site & Off-site Mechanisms. It also co-ordinates with other Regulators.

Month: Current Affairs - July, 2015