Business Other News 11 Mar 2019 IDBI Bank for 3-year ...

IDBI Bank for 3-year extension to chief

FC INVESTIGATIVE BUREAU
Published Mar 11, 2019, 1:22 am IST
Updated Mar 11, 2019, 1:22 am IST
LIC acquired majority control in IDBI Bank in January this year.
IDBI Bank
 IDBI Bank

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.

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