Ramesh Babu, an MBBS and an Indian Administrative Service Officer of Andhra Pradesh cadre, is tipped to take over as Chairman and Managing Director of power sector-focused lender Rural Electrification Corp Ltd, according to sources. He may take up his new assignment from January 1. Babu will replace B. P. Pandey, a special secretary in the Ministry of Power, who was given the additional charge of REC’s Chairman and Managing Director in the absence of a full-time CMD. The position of REC CMD fell vacant after the then incumbent, Rajeev Sharma, left it to occupy the same position at Power Finance Corp Ltd from October 1.