He succeeded Prakash Bakshi, who retired in September 2013, after which Snehlata Shrivastava, Additional Secretary, Department of Financial Services, Ministry of Finance, was given the additional charge of the said post.
Prior to this appointment, Bhanwala was the Executive Director (ED) at India Infrastructure Finance Company Ltd (IIFCL), a state-owned infrastructure lender.
He was also holding the charge of CMD, IIFCL for about six months.
He was earlier looking after the Corporate Planning, Human Resource Development and Credit Enhancement initiatives as Chief General Manager at IIFCL.
During his tenure at IIFCL, he also held the Chairmanship of the two subsidiaries of the company — IIFC (UK) Ltd., London, and IIFCL Projects Ltd., New Delhi.
--IBNS (Posted on 18-12-2013)