RBI Approves Sandeep Bakshi reappointment as ICICI Bank MD and CEO
Appointment
3 min read
The Reserve Bank of India (RBI) has approved the re-appointment of Sandeep Bakshi as the managing director (MD) and chief executive officer (CEO) of the ICICI Bank for three years.
Sandeep Bakshi will remain MD and CEO of India’s second largest private sector bank till 3rd October 2026.HDFC Bank is the largest private sector bank in India.
Earlier, the board of directors of ICICI Bank had approved to re-appoint Bakhshi as the bank's MD and CEO for a period of three years.
Bakhshi has been the bank's MD and CEO since October 15, 2018. Prior to his appointment, he was Whole time Director and the Chief Operating Officer (COO) of the bank.
Under the Banking Regulation Act 1949 RBI has the power to regulate and supervise the banks in India . It is mandatory for the banks regulated by RBI to get its approval regarding the approval of banks' top posts.
ICICI Bank
ICICI was set up as a Developmental Financial Institution in 1955. It provided medium and long term loans to the companies operating in infrastructure sectors and other industrial sectors.
In 1994, ICICI set up ICICI bank. It was registered as a private bank .
In 2002 the ICICI merged with the ICICI bank. Now there is a single universal bank with the name of ICICI bank.
ICICI is the first financial institution of Asia excluding Japan to be listed on the New York Stock Exchange (NYSE). It listed on NYSE in 1999.
Headquarters : Mumbai
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