Constitution of the Board of Directors and various
Committes of the Board alongwith their functions
(As on August 19, 2013)
I.
BOARD
1
Shri Sushil Muhnot
Chairman & Managing Director (CMD)
2
Shri N.K. Maini
Deputy Managing Director (DMD)
3
Shri T.R. Bajalia
Deputy Managing Director (DMD)
4
Shri Amarendra Sinha
Government Director
5
Shri Arvind Kumar
Government Director
6
Shri S.K.V. Srinivasan
Nominee of IDBI Bank
7
Shri J. Chandrasekaran
Nominee of State Bank of India
8
Shri B. Manivannan
Nominee of Life Insurance Corporation of
India
9
Shri T. Satyanarayana Rao
Nominated by Government of India
10 Shri Prakash Bakliwal
Nominated by Government of India
11 Shri Anil Agrawal
Nominated by Government of India
12 Shri P.A. Sethi
Co-opted Director
Functions
The general superintendence, direction and management of affairs and
business of Small Industries Development Bank of India vests in the Board
of Directors.
II.
EXECUTIVE COMMITTEE
1
Shri Sushil Muhnot, CMD - Chairman
2
Shri N.K. Maini, DMD
3
Shri T.R. Bajalia, DMD
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4
Shri B. Manivannan
5
Shri P.A. Sethi
Functions
The Executive Committee shall
 discharge such functions as may be prescribed / delegated to it by the
Board viz., transact all the usual business of Small Industries
Development Bank of India, except in such matters as are specifically
reserved to the Board under the Small Industries Development Bank of
India (Amendment) Act, 2000 or any regulations made thereunder; and
 exercise such powers as may be delegated to it by the Board from
time to time.
III.
AUDIT COMMITTEE
1
Shri Anil Agrawal – Chairman
2
Shri N.K. Maini, DMD
3
Shri T.R. Bajalia, DMD
4
Shri Arvind Kumar
Functions
The main functions of Audit Committee, constituted in terms of the RBI
guidelines, shall be as under:
 Provide direction and to oversee audit functions in the Bank.
 Interact with Statutory Auditors before finalization of Annual / Semiannual accounts and reports.
 Review action taken on all issues / concerns raised in the inspection
reports of Reserve Bank of India and Statutory Auditors Report
 Review cases of fraud and action taken as well as major areas of house
keeping.
 Such other matters as may be delegated to it by the Board.
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IV.
RISK MANAGEMENT COMMITTEE
1
Shri N.K. Maini, DMD
2
Shri T.R. Bajalia, DMD
3
Shri J. Chandrasekaran
Functions
The Risk Management Committee shall assess various risks associated with
the business of the Bank and their mitigation.
V.
COMMITTEE FOR SUPERVISION OF SFCs
1
Shri Sushil Muhnot, CMD – Chairman
2
Shri N.K. Maini, DMD
3
Shri T.R. Bajalia, DMD
4
Shri Prakash Bakliwal
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Functions
The broad functions of Committee for Supervision of State Financial
Corporations (SFCs) are as under:
 To guide the Bank in respect of policies and on matters relating to
supervision and inspection of SFCs, reviewing inspection findings and
suggesting appropriate measures;
 Identifying the emerging supervisory issues such as policy framework,
systems and controls, NPAs recovery, investment portfolio, credit
monitoring system, corporate governance, etc.;
 Recommending appropriate training for inspecting officers of SIDBI for
upscaling their skills and knowledge;
 Recommending issue of directions and other regulatory actions,
wherever required, for consideration of SIDBI/RBI/Government;
 Oversee quality of inspection carried out and reports issued from time
to time;
 Review the information generated through offsite surveillance and
other supplementary source and action, if any, taken thereon;
 Review of progress of mechanism of MoU entered into with various
SFCs;
 Undertake any other function
entrusted
from
time
by the Board.
VI.
SPECIAL COMMITTEE TO MONITOR LARGE VALUE FRAUDS
1
Shri Sushil Muhnot, CMD - Chairman
2
Shri N.K. Maini, DMD
3
Shri T.R. Bajalia, DMD
4
Shri Arvind Kumar
5
Shri Anil Agrawal
6
Shri J. Chandrasekaran
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to
time
Functions
The major functions of the Special Committee to Monitor Large Value
Frauds shall be to monitor and review all frauds of `1 crore and above so
as to:
 Identify systemic lacunae if any that facilitated perpetration of the
fraud and put in place measures to plug the same.
 Identify the reasons for delay in detection, if any, reporting to top
management of the bank and RBI:
 Monitor progress of CBI/Police investigation and recovery position:
 Ensure that staff accountability is examined at all levels in all the cases
of frauds and staff side action, if required, is completed quickly without
loss of time:
 Review the efficacy of the remedial action taken to prevent recurrence
of frauds, such as strengthening of internal controls:
 Put in place other measures as may be considered relevant to
strengthen preventive measures against frauds.
VII.
INFORMATION TECHNOLOGY STRATEGY COMMITTEE
1
Shri P.A. Sethi - Chairman
2
Shri N.K. Maini, DMD
3
Shri T.R. Bajalia, DMD
4
Shri B. Manivannan
Functions
Information Technology Strategy Committee gives direction to the Bank's
IT function, especially with regard to IT vision, policy and strategy so as to
align with business objectives. In addition, the Committee also guides the
Bank for IT long term plan and provide oversight of IT implementation and
management.
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VIII.
CUSTOMER SERVICE COMMITTEE
1
Shri P.A. Sethi - Chairman
2
Shri T.R. Bajalia, DMD
3
Shri J. Chandrasekaran
4
Shri Anil Agrawal
The Customer Service Committee gives direction in formulation of policies
and assess the compliance thereof with a view to strengthening the
corporate governance structure and also to bring about ongoing
improvements in the quality of customer service provided by the Bank.
IX.
HR STEERING COMMITTEE
1
Shri Sushil Muhnot, CMD – Chairman
2
Shri T.R. Bajalia, DMD
3
Shri Arvind Kumar
4
Shri P.A. Sethi
5
Dr. Chitra Rao
The HR Steering Committee, constituted based on the recommendations
of the Khandelwal Committee, provides guidance and direction to the
Board in matters relating to Human Resources.
X.
RECOVERY REVIEW COMMITTEE
1
Shri Sushil Muhnot, CMD – Chairman
2
Shri N.K. Maini, DMD
3
Shri T.R. Bajalia, DMD
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4
Shri Arvind Kumar
5
Shri P.A. Sethi
The Recovery Review Committee, constituted in terms of the directives of
GoI, reviews all the NPA cases having principal outstanding of `3 crore and
above.
XI.
REMUNERATION COMMITTEE
1
Shri Arvind Kumar
2
Shri B. Manivannan
Function
Remuneration Committee considers and approves the payment of
Performance Linked Incentive to CMD and DMDs of the Bank in terms of
the guidelines provided by Government of India.
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