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- Rakesh Sharma’s re-appointment as MD & CEO of IDBI Bank has been approved by the bank’s board.
- IDBI Bank’s Board of Directors has approved his re-appointment as Managing Director and Chief Executive Officer (MD & CEO) for a three-year term.
- His term will be starting from March 19, 2025. Sharma has been leading the bank since October 10, 2018.
- Before joining IDBI Bank, he served as the MD & CEO of Canara Bank.
- Earlier, IDBI bank’s major shareholders began the process of selling their shares in October 2022.
- These shareholders were Life Insurance Corporation of India (LIC), which holds a 49.24% stake, and the Government of India, holding a 45.48% stake.
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