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IDBI Bank Re-Appoints Rakesh Sharma as Managing Director & CEO for a Three-Year Term.

Appointment | Dated: 28 Jan 2025

In January 2025, IDBI Bank Limited, based in Mumbai (Maharashtra), announced the reappointment of Rakesh Sharma as Managing Director (MD) and Chief Executive Officer (CEO) of the bank for a period of three years, effective from March 19, 2025.

🎯 Key Highlights:

  • - This decision was approved by the Board of Directors after receiving approval from the Reserve Bank of India (RBI).
  • - Rakesh Sharma began his career in 1980 at State Bank of India (SBI) as Chief General Manager (CGM). He later moved to Lakshmi Vilas Bank Limited, where he served as MD & CEO from March 2014 to September 2015.
  • - He became MD & CEO of Canara Bank in September 2015, leading the bank for three years before retiring in July 2018.

💡 Other Important Facts:

  • (i) In October 2018, Rakesh Sharma took over as MD & CEO of IDBI Bank, a role he held until his reappointment.
  • (ii) Rakesh Sharma currently serves as the President of the Governing Body at the Entrepreneurship Development Institute of India (EDII) and is a member of the Managing Committee of the Indian Banks' Association (IBA).
  • (iii) The reappointment of Rakesh Sharma comes as IDBI Bank’s promoters, Life Insurance Corporation of India (LIC), holding 49.24%, and the Government of India (GoI), with 45.48%, are working towards reducing their stakes.

📚 Test Your Knowledge:

Recently, who was re-appointed as the MD and CEO of IDBI Bank for a three-year term?

Correct Answer: Rakesh Sharma

🚀 Quick Recap:

About IDBI Bank

  • MD & CEO : Rakesh Sharma
  • Headquarters: Mumbai