Question : Who has recently(February 2022) been reappointed as MD&CEO of IDBI Bank for a period of 3 years ?
a. Rakesh Sharma
b. Ajay Rathi
c. Som Ballabh
d. M Aiyengar
Ans. a.
Related facts —
- Rakesh Sharma has recently(February 2022) been reappointed as MD&CEO of IDBI Bank for a period of 3 years.
- His reappointment as the MD&CEO of the bank has received the banking regulator, RBI nod.
- He was initially appointed as the MD&CEO of the bank in October 2018.
- It is notable that the move comes amid the government’s effort to privatise the bank by selling a part of its stake.
- LIC, which is the promoter of the IDBI bank, is also expected to sell some part of its stake in the bank in the privatisation process.
- Share holding pattern —
- Life Insurance Corporation of India had picked up a 51 per cent stake in IDBI Bank in 2019.
- Subsequently, in 2020, it reduced its shareholding to 49.24 per cent.
- Currently, the Union Government and LIC hold 94.71 per cent in the bank.
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