Sandeep Bakshi as new ICICI Bank MD, CEO, gets RBI approval
"We wish to inform you that RBI vide its letter no DBR Appt. No. 3065 /08.88.001/2018-19 dated October 15, 2018 has approved the appointment of Sandeep Bakhshi as Managing Director and CEO of the Bank for a period of three years with effect from October 15, 2018," ICICI Bank said in a BSE filing.
)
03:40 PM IST
Private sector lender ICICI Bank Tuesday said the RBI has approved Sandeep Bakshi's appointment as Managing Director and CEO of the bank for three years.
After resignation of Chanda Kochhar, who was facing inquiry, earlier this month, the bank's board had elevated Chief Operating Officer (COO) Bakshi as the new managing director and CEO for five years until October 3, 2023, subject to regulatory and other approvals.
"We wish to inform you that RBI vide its letter no DBR Appt. No. 3065 /08.88.001/2018-19 dated October 15, 2018 has approved the appointment of Sandeep Bakhshi as Managing Director and CEO of the Bank for a period of three years with effect from October 15, 2018," ICICI Bank said in a BSE filing.
The private sector lender said Bakshi had joined the group in 1986.
He was appointed as the MD and CEO of ICICI Prudential Life Insurance Company on August 1, 2010 where under his leadership the company redesigned various products, re-engineered the distribution architecture and made significant improvement in productivity. He successfully led the listing of the company.
Facing enquiry over the charges of nepotism and conflict of interest, ICICI Bank's former MD and CEO Chanda Kochhar had quit the bank on October 4, six months before her current tenure was to end.
Watch Zee Business video here:
Kochhar, 57, also resigned from all subsidiaries of the bank, including ICICI Securities where she had sought reappointment as the chairperson.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
)
)
)
)
)
)
RBI may go for another 25 bps rate cut in August, repo rate to come down at 5.25%: Report
ICICI Bank Q1FY26 Preview: Profit likely to grow 8.5% to Rs 12,000 crore, NII may rise 7%
Senior Citizen Latest FD Rates: Compare interest rates of banks like SBI, PNB, HDFC Bank and maturity on Rs 10,50,000 investment in 1-5 year FDs
ICICI and HDFC Bank cut FD interest rates again; check latest rates effective May 2025
Should you buy, hold or sell HDFC Bank and ICICI Bank stocks post Q4 show? Check what Anil Singhvi says
