Thorat appointed NABARD Chairman

Mumbai, Apr 6 (UNI) Dr Y S P Thorat, Managing Director of the State-owned National Bank for Rural and Agriculture Development (NABARD) will also be its Chairman now, a spokesman of the bank told UNI here today.

He succeeds Ms Ranjana Kumar, who was appointed member of the Central Vigilance Commission (CVC) on November 28 last year.

Son of an illustrious General in the Indian Army, Dr Thorat, prior to joining NABARD in 2004, was the Executive Director of the Reserve Bank of India (RBI).

A doctorate in Economics and with degrees in Political Science and Law, Dr Thorat has served as RBI nominee on the Boards of Oriental Bank of Commerce, Punjab National Bank, IDFC, EXIM Bank and ECGC.

Mr Thorat, whose recent Report on the Credit Deposit Ratio (CDR) has been accepted by the Union government, had also worked as the Member-Secretary to the Vaidyanathan Committee that helped craft a Rs 15,000 crore revival package for the short-term cooperatives.

He is also the Chairman, NABCONS, Advisory Board for Micro Finance Development and Equity Fund, Chairman of a Sub-Group of the NDC on Watershed Development.

His wife Usha is the Deputy Governor of the Reserve Bank of India.

UNI CP KD LS BS2205