SBI managing director B Sriram has resigned from the country’s largest lender after his appointment as chief executive of IDBI Bank. The development assumes significance amid reports that insurance behemoth LIC is mulling acquiring a majority stake in the debt-ridden state-owned bank.
The government last week appointed Sriram as managing director and CEO of IDBI Bank for a temporary period of three months. Sriram took charge of IDBI Bank on June 22 following M K Jain demitting office to take over as Deputy Governor of RBI.
Static/Current Takeaways Important for Bank of Baroda PO Exam 2018-
- Rajnish Kumar is Chairman of the State Bank of India.
- IDBI was constituted under Industrial DevelopmenBanknk of India Act, 1964.
- The Head office of IDBI is in Mumbai.
Source- The Hindu Business Line
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