The IDBI Bank is planning to appoint the current MD Rakesh Sharma for three more consecutive years as an MD and Chief Executive. Also, it will broadcast the board to induct professionals and two deputy MDs.
The IDBI bank said, “The Bank has already started the process of appointing two new Deputy Managing Directors for the Bank, which will be through open competition from the market. The Chairman of LIC has been appointed as the non-executive Chairman of the Bank,”
MD Rakesh Sharma said, “We have set up a war room to focus on recovering the non-performing loans while another team is keeping a check on loans showing early signs of stress.” As bad-loan ratio narrows and profits rise IDBI Bank will be out of the Reserve Bank’s corrective action framework by September.
IDBI  Bank suggested, “The Bank is considering the name of Rakesh Sharma, the current MD of the Bank, for an appointment for a further period of three years as MD & CEO of IDBI Bank. The Bank has also already inducted in the Board, two new eminent professional independent directors (Professor from Indian School of Business and retired Executive Director, Reserve Bank of India).”
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