You are here: Home » Finance » News » Banks
Business Standard

Govt appoints former Canara Bank MD Rakesh Sharma as head of IDBI Bank

This comes after the tenure of B Sriram who was appointed as the chief executive of IDBI Bank for three months ended in September 2018

Press Trust of India  |  New Delhi 

IDBI Bank
IDBI Bank

The government Friday appointed former as of

has been appointed as managing of six months, sources said.

This comes after the tenure of B Sriram who was appointed as the of for three months ended in September 2018.

"has the experience of heading a large public sector bank," a Ministry said, adding he came through a rigorous process through which private sector candidates were appointed heads of state-run

Prior to his appointment in Bank, Sharma was heading He completed his three-year term in Bank in July 2018.

board on Thursday approved the proposal for issuance of preferential shares in favour of LIC to increase the share of insurer in the bank up to 51 per cent.

Subsequently, LIC then came out with an open offer for acquiring 26 per cent of equity in IDBI Bank at Rs 61.73 per share.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, October 05 2018. 22:05 IST
RECOMMENDED FOR YOU