CURRENT AFFAIRS

Detailed explanation-1: -The correct answer is Rakesh Sharma. IDBI Bank’s board has approved the re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer of the company for a period of 3 years with effect from 19 March 2022. He started his banking career in the State Bank of India (SBI).

Detailed explanation-2: -The Government appoints Managing Directors from Whole-time Directors (WTD) of a public sector banks after vigilance clearance, etc. Name of these WTDs are recommended by the Financial Services Institutions Bureau (FSIB).

Detailed explanation-3: -The Centre has extended the tenure of managing director (MD) and CEO of Bank of Baroda (BoB) Sanjiv Chadha for about five months till 30 June, 2023.

Detailed explanation-4: -Shri Shanti Lal Jain assumed charge as Managing Director and Chief Executive Officer of Indian Bank on 1st September 2021.

Detailed explanation-5: -Central government has announced the appointment of K Satyanarayana Raju as Managing Director and CEO of Canara Bank. His appointment is effective from February 7. Earlier, Raju served Canara Bank as executive director from March 2021. He replaced L V Prabhakar who demitted office on December 31, 2022.