PSU Watch logo

| BEML posts highest-ever turnover of Rs 3,557 crore during FY 2020-21 |   | NCL extends Rs 10 crore to MP govt for setting up 5 oxygen plants |   | ‘With commercial auction tranche 2, govt moving towards rolling auction of coal mines’ |   | Only one-eighth of India’s target to deploy 2 mn solar pumps achieved so far: IEEFA |  

IDBI is considering a reappointment for its MD Rakesh Sharma

IDBI is considering a reappointment for its MD Rakesh Sharma
IDBI is considering a reappointment for its MD Rakesh Sharma

New Delhi: IDBI Bank is considering extending the appointment of its Managing Director (MD) Rakesh Sharma for a period of three years as the bank's MD and Chief Executive, the bank said in a statement. Along with Sharma’s appointment, the bank is also mulling broad-basing the board to induct professionals and two deputy MDs.

“The Bank is considering the name of Rakesh Sharma, the current MD of the Bank, for the appointment for a further period of three years as MD & CEO of IDBI Bank. The Bank has also already inducted in the Board, two new eminent professional independent directors (Professor from Indian School of Business and retired Executive Director, Reserve Bank of India),”

“The Bank has already started the process of appointing two new Deputy Managing Directors for the Bank, which will be through open competition from the market. The Chairman of LIC has been appointed as the non-executive Chairman of the Bank,” IDBI Bank said in an official statement. “The Bank is considering the name of Rakesh Sharma, the current MD of the Bank, for the appointment for a further period of three years as MD & CEO of IDBI Bank.

ALSO READ: Amid financial crisis, BSNL gets a new Director Finance

The Bank has also already inducted in the Board, two new eminent professional independent directors (Professor from Indian School of Business and retired Executive Director, Reserve Bank of India),” it said. The new board will be expected to chart out a fresh growth strategy for the bank and revamp the corporate governance structure to ensure best-in-class business practices.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)