Dr K G Karmakar, executive director, NABARD has been appointed managing director. He will hold the office for 5 years.

Karmakar has authored three pioneering books — Agricultural Project Management for Banks, Rural Credit, Micro Finance and SHGs, and The Silenced Drums.

In the last 30 thirty years he has served with various banking and financial institutions including State Bank of India, Reserve Bank and NABARD and is a specialist in agricultural credit, micro credit, project management, rural infrastructure development, and corporate planning.

He holds a doctorate in management from the University of Bombay and a post graduate degree in financial management.