Rakesh Sharma reappointed as MD&CEO of IDBI Bank for a period of 3 years

Rakesh Sharma's reappointment as the MD&CEO of IDBI bank has received the banking regulator, Reserve Bank of India's (RBI) nod.

IDBI Bank on Thursday informed the stock exchanges that its board has approved the reappointment of Rakesh Sharma as the managing director and chief executive officer (MD&CEO) of the bank for a period of three years, effective March 19, 2022.

Sharma's reappointment as the MD&CEO of the bank has received the banking regulator, Reserve Bank of India's (RBI) nod, the exchange notification said. Sharma was initially appointed as the MD&CEO of the bank in October 2018.

The move comes amid the government’s effort to privatise the bank by selling a part of its stake. LIC, which is the promoter of