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October 06, 2018

Meet the new CEO of IDBI Bank - Rakesh Sharma

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Senior banker Rakesh Sharma has been appointed as the new Managing Director and Chief Executive Officer (MD & CEO) of IDBI Bank. He will be in the position for 6 months or until further orders. Sharma is a former MD and CEO of Canara Bank and was among the few bankers hired in 2015 from the private sector to lead big state-run banks. Prior to that, he was at the helm of Lakshmi Vilas Bank.

He is going to replace B Sriram, who retired from his post on 1st October 2018, after three months at the helm of the state-owned lender.

Sharma will now facilitate the merger of IDBI Bank with Life Insurance Corporation of India (LIC).  Recently LIC has received aproval to increase it's stake in the bank to a maximum of 51 per cent. 

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