ICICI Bank, the country’s second-largest private sector bank, has received approval from the Reserve Bank of India (RBI) for the re-appointment of Sandeep Bakhshi as the managing director and chief executive officer (MD and CEO) of the bank. This decision reinforces Bakhshi’s leadership and vision for the bank.
In an official exchange filing on September 11, ICICI Bank announced that RBI had granted its approval for the re-appointment of Sandeep Bakhshi as the MD and CEO of the bank. Bakhshi will assume his role from October 4, 2023, and the term of his re-appointment will extend until October 3, 2026.
It is worth noting that shareholders had already given their approval for Mr. Bakhshi’s re-appointment during the Annual General Meeting held on August 30, 2023. This aligns with the broader support and confidence in his leadership.
The board of directors of ICICI Bank had previously endorsed the re-appointment of Bakhshi as the bank’s MD and CEO, extending his tenure for three more years. Sandeep Bakhshi has been in this pivotal role since October 15, 2018. Before assuming the position of MD and CEO, he held the position of Whole-time Director and Chief Operating Officer (COO) within the bank.
Sandeep Bakhshi boasts an impressive 36-year career within the ICICI Group, where he has successfully handled various assignments across the organization. His extensive experience spans key roles in ICICI Limited, ICICI Lombard General Insurance, ICICI Bank, and ICICI Prudential Life Insurance. Bakhshi’s wealth of knowledge and his deep-rooted understanding of the ICICI Group’s operations make him a valuable asset to the organization.
This re-appointment reflects ICICI Bank’s commitment to continuity and sustained leadership as it continues to navigate the dynamic and evolving landscape of the banking and financial sector in India.
FAQs related to ICICI Bank, Sandeep Bakhshi and RBI’s Nod for Re-Appointment as MD and CEO
Who is Sandeep Bakhshi, and what is his role at ICICI Bank?
Answer: Sandeep Bakhshi is the Managing Director and Chief Executive Officer (MD and CEO) of ICICI Bank, the country’s second-largest private sector bank.
What recent announcement did ICICI Bank make regarding Sandeep Bakhshi’s position?
Answer: ICICI Bank announced that it has received approval from the Reserve Bank of India (RBI) for the re-appointment of Sandeep Bakhshi as the MD and CEO of the bank.
When does Sandeep Bakhshi’s re-appointment as MD and CEO of ICICI Bank take effect?
Answer: Sandeep Bakhshi’s re-appointment as MD and CEO of ICICI Bank is effective from October 4, 2023.
How long is Sandeep Bakhshi’s re-appointment for?
Answer: Sandeep Bakhshi’s re-appointment as MD and CEO of ICICI Bank is for a period of three years, from October 4, 2023, to October 3, 2026.
What approval did the shareholders give regarding Sandeep Bakhshi’s appointment?
Answer: At the Annual General Meeting held on August 30, 2023, the shareholders of ICICI Bank had already approved the appointment of Mr. Bakhshi for the three-year period.
When did Sandeep Bakhshi assume his position at ICICI Bank?
Answer: Sandeep Bakhshi assumed the position of MD and CEO of ICICI Bank on October 15, 2018.
What was Sandeep Bakhshi’s role before becoming MD and CEO of ICICI Bank?
Answer: Before becoming MD and CEO, Sandeep Bakhshi served as the Whole-time Director and Chief Operating Officer (COO) at ICICI Bank.
How long has Sandeep Bakhshi been associated with the ICICI Group?
Answer: Sandeep Bakhshi has been associated with the ICICI Group for 36 years, during which he has held various assignments across the group in ICICI Limited, ICICI Lombard General Insurance, ICICI Bank, and ICICI Prudential Life Insurance.
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