IDBI Bank Appoints LIC’s Hemant Bhargava As Non-Executive Chairman

IDBI Bank has appointed Hemant Bhargava as non-executive, non-whole time chairman. Bhargava is currently the Chairman (in-charge) and Managing Director of Life Insurance Corporation of India (LIC).

The bank stated that Bhargava has been appointed for 3 years or until he continues in his position at LIC. The life insurer is now the majority shareholder in IDBI Bank with a 51% stake.

Source: The Money Control

Static/Current Takeaways Important for NIACL AO Mains Exam:

  • IDBI Bank Headquarters: Mumbai, MD and CEO: Rakesh Sharma.

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