CURRENT AFFAIRS

Detailed explanation-1: -The re-appointment period to start from October 4, 2023. The board of directors of ICICI Bank has re-appointed Sandeep Bakhshi as the bank’s managing director (MD) and chief executive officer (CEO) for a period of three years, the bank said in a regulatory filing.

Detailed explanation-2: -Sandeep Bakhshi is the Managing Director and CEO of ICICI Bank since October 15, 2018. Prior to his appointment as MD & CEO, he was a Wholetime Director and the Chief Operating Officer (COO) of the Bank.

Detailed explanation-3: -“The Board unanimously approved the re-appointment of Mr. Sandeep Bakhshi for a period of three years with effect from October 4, 2023 to October 3, 2026, subject to approval of the RBI and shareholders of the Bank, ” said the regulatory filing. He was appointed as the banks’s MD and CEO since October 15, 2018.

Detailed explanation-4: -ICICI Loan Fraud Case Explained: Journey of Chanda Kochhar from being the first woman CEO of an Indian bank to going behind bars. Chanda Kochhar Case: Kochhar, 59, quit the position of CEO and MD of ICICI Bank in October 2018 after the allegations.

Detailed explanation-5: -Subject to the consent of the Reserve Bank of India (RBI) and the Bank’s shareholders, the re-appointment tenure will run from October 4, 2023, to October 3, 2026. Bakhshi has been in charge of the bank since October 15, 2018. He formerly served as Wholetime Director and Chief Operating Officer (COO).