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Cyril Amarchand Delhi hires senior-SBI & gov't hand Pradeep Kumar Bagga

Pradeep Kumar Bagga, who has been with the State Bank of India for more than 30 years, has joined Cyril Amarchand Mangaldas in Delhi as a senior consultant, according to a press release from the firm to “provide advice and guidance on general policy and regulations” and assist in “practice area development initiatives”, according to a press release from the firm.

Managing partner Cyril Shroff commented in the press release: “Foreign investments and banking have always been focus areas, and his experience and exposure to the industry would add value to our firm and will further enhance our capabilities to support our clients.”

Bagga, who has 39 years of experience working in the financial sector, added that he was very happy to be associated with Cyril Amarchand and to put his “knowledge and experience in serving the corporate clientele, as also benefiting from its experienced professionals”.

According to the press release:

Most recently Mr. Bagga has been with the Government of India as Officer on Special Duty (OSD) with the Department of Economic Affairs (DEA), Ministry of Finance (MoF) in the areas of Capital Markets and Foreign Investment, in both Foreign Direct Investment (FDI) Policy making and approvals from the Foreign Investment Promotion Board (FIPB) and Foreign Portfolio Investors (FPI earlier FII) Policy Framework.

At DEA, he provided support in formulating the DEA-MoF view on external flows (both debt and equity i.e. External Commercial Borrowing (ECB), FDI and FII flows. Specific FDI proposals in sensitive sectors are analyzed from the DEA perspective and placed before the FIPB (chaired by the Finance Secretary) which accords approval to such proposals. Further, he was entrusted with providing support in formulating the MoF view in respect of Cabinet Notes on the subjects emanating from the Ministry of Overseas Indian Affairs, Department of Industrial Policy & Promotion, Department of Public Enterprises and Department of Heavy Industries.

Lastly, at DEA had also been providing support to policy level formulations in the Capital Markets, Regulatory architecture and oversight and also for Government nominees on Boards of Public Sector Banks effectively leveraging his vast experience in commercial banking. Mr. Bagga was part of the thinking process evolving the architecture of the FSDC and the setting up of the FSLRC These now are at the forefront of reforms in ushering in the Indian Financial Code.

While at State Bank of India, Mr. Bagga’s key expertise has been in the areas of corporate credit, project finance, risk assessment and international finance both domestically and internationally. The key assignments and notable positions which Mr. Bagga held were at the Industrial Finance Department Corporate Centre, Mumbai, Regional Manager at Delhi Zonal Office, Regional Head at SBI Capital Markets Ltd, New Delhi and as the CEO State Bank of India, Paris.

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