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Manoj Mittal has taken charge as Chairman and Managing Director of Small Industries Development Bank of India (SIDBI) following his appointment by the Centre.

Prior to this, he was the managing director of the Industrial Finance Corporation of India (IFCI).

Mittal has over 33 years of experience in the financial services sector, including his previous tenures as MD and CEO of IFCI and Deputy Managing Director at SIDBI, an official statement said.

Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, had recommended Mittal for the position in April 2024.

The bureau had at the time interviewed 21 candidates.

Mittal who earlier worked as a Deputy Managing Director at SIDBI from 2016-2021, now replaces S Ramann, who had joined SIDBI for a three-year tenure in April 2021.