CURRENT AFFAIRS

Detailed explanation-1: -It mentioned, “The board has approved the reappointment of Rakesh Sharma as the managing director and chief executive officer (MD&CEO) of the bank for a period of three years, effective March 19, 2022.” The reappointment came in effect after the Reserve Bank of India’s (RBI) nod, said in a regulatory filing.

Detailed explanation-2: -Detailed Solution. 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-3: -"We would like to inform that RBI vide its letter dated October 6, 2022, has approved the appointment of Prashant Kumar as the MD &CEO of the Bank for a period of three years effective from today i.e. October 6, 2022,” Yes Bank said in a regulatory filing on Thursday.

Detailed explanation-4: -“The search committee constituted to identify the MD and CEO for the bank ran an exhaustive process along with Egon Zehnder and recommended the name of R Subramaniakumar, a highly capable and a meritorious person for the job,” the lender said.

Detailed explanation-5: -While the appointments are made by the appointment committee of the cabinet headed by the Prime Minister, the candidates are selected by a Financial Services Institutions Bureau – a body set up under the department of financial services, which replaced the Banks Board Bureau.