Mumbai: Small Industries Development Bank of India (Sidbi) on Wednesday said the finance ministry has appointed Tilak Raj Bajalia as its Deputy Managing Director.

Prior to joining Sidbi, Bajalia was an executive director at the IDBI Bank, according to an official release.

Bajalia started his career in a commercial bank in 1974 and moved to IDBI in 1983. In his 38 years in the banking sector, he had handled varied portfolios like corporate and retail finance, recovery and non performing asset management, restructuring, human resource management.

He was instrumental in setting up of MSME vertical in IDBI in 2008.

(Agencies)

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