......“While Sarangi is part of the strong IAS lobby and has good friends in political parties, Bakshi was made chairman because he was Sarangi’s man,” said a top official of Nabard who was close to both. The RBI did not object to the appointments. According to its eligibility criteria, the chairman of Nabard, “should have 25 years of executive experience… of which at least 3 years should be at board/apex/top management level”. When Bakshi applied for the post chairman in December 2010, he had just over two years experience in top management.............
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