M Damodaran
The now discredited Managing Director of PMC Bank has stated that a number of bogus accounts were opened to funnel the funds to a large infrastructure company. In these days, when genuine bank customers are being bombarded with messages on updating their KYCs (Know Your Customers), it is inconceivable that no one chose to ascertain how so many accounts were opened ostensibly without KYCs.
M. Damodaran has held a number of important positions in the Central and State Governments and in India’s financial sector, including Chairman, Securities Exchange Board of India (SEBI), Chairman, Unit Trust of India (UTI), Chairman, Industrial Development Bank of India (IDBI), Chief Secretary, Government of Tripura. While at SEBI, he was elected Chairman of the 80 member Emerging Markets Committee of the International Organisation of Securities Commissions.
After successful stints at UTI and IDBI, where he successfully led the turnaround efforts, and at SEBI where he introduced improved corporate governance practices, he has set up Excellence Enablers Private Limited (EEPL), a Corporate Governance and Board Advisory consultancy firm. His pioneering role in promoting Corporate Governance in India invests EEPL with an experience-based leadership role in corporate governance advisory work. In addition, he is presently a consultant, advisor, coach and mentor and sits on the Boards of some leading companies as well as on the Advisory Boards of some foreign entities. He is Practice Professor of Eminence at International Management Institute (IMI), Delhi. He was the founder Chairman of the Indian Institute of Management Tiruchirapalli.