IDBI proposes three-year term as MD& CEO for Rakesh Sharma

Forms task force for synergy with LIC, approves insurer as a corporate agent under bancassurance

IDBI Bank, which is now controlled by the Life Insurance Corporation of India (LIC), has proposed a fresh term of three years for Rakesh Sharma, its managing director and chief executive director.  His current six-month stint comes to a close at the end of month.

Sharma came to head IDBI Bank in October 2018. Prior to that, he was MD & CEO of Canara Bank till July 2018.

IDBI Bank has formed joint task force with LIC to realise the full potential arising out of business synergies. 

The panel, consisting of top managers from the lender and the insurer, will