FSIB picks up T D Sivakumar for position of IIFCL DMD

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Thursday recommended T D Sivakumar for the position of Deputy Managing Director (DMD) of India Infrastructure Finance Company Limited (IIFCL).

Sivakumar, currently serving as Chief General Manager at India Exim Bank, would be the second DMD in the state-run financial institution.

The government recently created second DMD position recently as IIFCL business has increased significantly in the last 5-6 years.

Palash Srivastava has been serving as Deputy Managing Director of IIFCL since July 2025.

Financial Services Institutions Bureau (FSIB) interviewed nine candidates on May 20-21, 2026, for the position of Deputy Managing Director (DMD) 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 T D Sivakumar for the position of DMD in IIFCL,'' it said.

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.

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.

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