Home / Companies / News /  IDBI Bank approves re-appointment of Rakesh Sharma as MD & CEO for 3 years

IDBI Bank on Thursday informed the stock exchanges that its board has approved the re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer of the company for a period of three years with effect from 19 March.

Rakesh Sharma is a seasoned banker with a total stint of over 40 years in various banks. He started his banking career in State Bank of India (SBI) and held various responsibilities in SBI including credit assignments in specialized branches and administrative offices of SBI.

He also worked at Tokyo Branch of SBI for 4 years, banking operations in International banking group at Corporate Center of SBI, Head of HR in Delhi circle, retail operations in the state of Rajasthan, Uttarakhand and Western UP, Head of Mid Corporate group in Undivided Andhra Pradesh and then CGM of Patna Circle comprising operations in Bihar and Jharkhand states, IDBI Bank said in a statement.

Rakesh Sharma then moved from the position of Chief General Manager in SBI to Lakshmi Vilas Bank Ltd. as MD & CEO and served there from March 2014 till September 2015.

Later Sharma joined Canara Bank as MD & CEO in September 2015 and retired from Canara Bank as MD & CEO in July 2018. While in Canara Bank, he also held the position of Chairman in the group companies of Canara Bank.

On Thursday, IDBI Bank shares were down nearly 7% in noon deals at 41.95 apiece on NSE.

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