India is in constant consultations with the developed and emerging economies on the appointment of a new IMF chief. Talking to reporters on the sidelines of a conference in New Delhi , Finance Minister Pranab Mukherjee on Tuesday said the government is keeping a close watch on the developments. The post of the IMF managing director fell vacant following the exit of Dominique Strauss-Kahn, who is being tried for charges of sexual assault. When asked about the possibility of new chief from a developing country, Mr Mukherjee said, there are set procedures and as IMF is a financial institution, shareholding and voting power are relevant factors.AIR correspondent reports, although the demand is growing that the next chief should be from an emerging nation, several leaders from European countries have extended their support to Finance Minister of France, Christine Lagarde.Besides Lagarde, Planning Commission Deputy Chairman Montek Singh Ahluwalia and former British Prime Minister Gordon Brown figure in the list of probables for the top IMF job.