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Report: Indian government names CEO for IFCI

The Indian government has appointed Emandi Sankara Rao as the new CEO and managing director of IFCI Ltd., The Hindu Business Line reported Aug. 14, citing official sources.

The Appointments Committee of the Cabinet has approved the Department of Financial Services' proposal to appoint Rao. A formal order for the Department of Financial Services is expected soon.

Rao is currently chief general manager at India Infrastructure Finance Co. Ltd.