The country's second largest private sector bank, ICICI Bank said that it has received the Reserve Bank of India (RBI)'s approval for re-appointment of Sandeep Bakhshi as the managing director and chief executive officer (MD and CEO) of the bank.
The lender, in an exchange filing on September 11 said that RBI approved the re-appointment of Sandeep Bakhshi as the MD and CEO of the bank with effect from October 4, 2023 till October 3, 2026.
"At the Annual General Meeting held on August 30, 2023, the Shareholders had already approved the appointment of Mr. Bakhshi for the above mentioned period," the lender said in the filing.
Also read: ICICI Bank board reappoints Sandeep Bakhshi as MD and CEO for three years
Earlier, the board of directors of ICICI Bank had approved to re-appoint Bakhshi as the bank's MD and CEO for a period of three years.
Bakhshi has been holding the position in the bank since October 15, 2018. Prior to his appointment, he was Whole time Director and the Chief Operating Officer (COO).
Bakhshi has been with the ICICI Group for 36 years and has handled various assignments across the group in ICICI Limited, ICICI Lombard General Insurance, ICICI Bank and ICICI Prudential Life Insurance.
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