Mumbai: IDBI Bank has announced the reappointment of Rakesh Sharma as Managing Director (MD) and Chief Executive Officer (CEO) for another three-year term. The decision, approved by the Board of Directors on January 23, 2025, comes into effect from March 19, 2025, following the Reserve Bank of India’s (RBI) approval.
Rakesh is a seasoned banking professional with over 40 years of extensive experience in various facets of the banking industry. He began his career at the State Bank of India (SBI), where he held several key responsibilities, including credit assignments at specialized branches, international banking operations at the Tokyo Branch, and heading HR and retail operations in different regions. Notably, he also served as Head of the Mid Corporate Group in undivided Andhra Pradesh and as Chief General Manager of the Patna Circle, overseeing operations in Bihar and Jharkhand. He transitioned from SBI to serve as MD & CEO of Lakshmi Vilas Bank Ltd. from March 2014 to September 2015. Subsequently, he joined Canara Bank as MD & CEO in September 2015, where he led the organization for three years before retiring in July 2018. During his tenure at Canara Bank, he also chaired the group companies of the bank.
In October 2018, Rakesh took over as MD & CEO of IDBI Bank. Under his leadership, IDBI Bank has seen significant progress in its operational and financial performance. His reappointment reflects the Board’s confidence in his ability to steer the bank toward sustained growth and stability.
Currently, Rakesh also serves as the President of the Governing Body of the Entrepreneurship Development Institute of India (EDII) and is a member of the Managing Committee of the Indian Banks’ Association (IBA). He is the Non-Executive Director and Chairman of IDBI Capital Markets & Securities Ltd. and IDBI Intech Limited.
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