LIC acquired majority control in IDBI Bank in January this year.
On January 21, IDBI Bank had received Rs 5,030 crore from LIC and on December 28, 2018, LIC had pumped in Rs 14,500 crore capital into the bank as part of its takeover. (Photo: Financial chronicle)
Mumbai: IDBI Bank on Sunday said it is considering appointing current Managing Director Rakesh Sharma for three years as its MD & CEO, besides broad-basing the board to induct professionals and two deputy MDs. “The chairman of LIC has been appointed as the non-executive chairman of the bank,” IDBI Bank said in a release.
LIC acquired majority control in IDBI Bank in January this year.
The bank also said it is strategising to be a ‘one-of-its-kind’ financial conglomerate and plans to bring banking and insurance services under a single platform.
( Source : FC Investigative Bureau )
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