Shyam Srinivasan has been appointed by RBI as the next managing director and chief executive officer of Federal Bank. Srinivasan is the country manager for consumer business for Standard Chartered Bank.

Federal Bank's MD & CEO M Venugopalan has retired from his post on 31st July. However, Srinivasan will be taking his seat from September 2010.

According to analysts, Federal Bank would now put more focus on retail banking. The bank is also eyeing to take over other small private sector banks.

Venugopalan had denied rumors of IDBI Bank taking over Federal Bank.

``Not even in our dream this has been visualised. A bank like this would never be allowed to to be taken over. We will rather aquire other banks. But there should be good buys,'' he had said.