In a noteworthy development, ICICI Bank, India’s second-largest private sector bank, has officially announced that it has received the coveted approval from the Reserve Bank of India (RBI) for the re-appointment of Sandeep Bakhshi as the bank’s Managing Director and Chief Executive Officer (MD and CEO). This approval stands as a crucial milestone in the bank’s quest for stability and the seamless continuation of its leadership.
According to an exchange filing made on September 11, the RBI has granted its consent for Sandeep Bakhshi’s re-appointment as MD and CEO of ICICI Bank, effective from October 4, 2023. This extension secures his tenure until October 3, 2026, signifying a resounding vote of confidence from both the board of directors and the RBI in Mr. Bakhshi’s outstanding leadership and strategic vision.
Sandeep Bakhshi has held the reins of ICICI Bank since October 15, 2018, previously serving as the Whole-time Director and Chief Operating Officer (COO). With an impressive track record spanning 36 years within the ICICI Group, Bakhshi brings a wealth of experience to his role. He has made substantial contributions to various facets of the ICICI Group, encompassing ICICI Limited, ICICI Lombard General Insurance, ICICI Bank, and ICICI Prudential Life Insurance.
This re-appointment not only ensures a seamless continuation of leadership but also underscores Sandeep Bakhshi’s deep-rooted connection with the ICICI Group and his adeptness in navigating the ever-evolving banking landscape with precision and expertise.