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  Business   Companies  15 Mar 2019  Hemant Bhargava ceases to be Non Executive Chairman of IDBI Bank

Hemant Bhargava ceases to be Non Executive Chairman of IDBI Bank

PTI
Published : Mar 15, 2019, 3:42 pm IST
Updated : Mar 15, 2019, 3:42 pm IST

IDBI Bank is now a private sector lender following acquisition of majority stake by LIC.

Stock of IDBI Bank was trading 0.81 per cent down at Rs 42.75 on BSE.
 Stock of IDBI Bank was trading 0.81 per cent down at Rs 42.75 on BSE.

New Delhi: IDBI Bank on Friday said Hemant Bhargava has ceased to be its Non Executive Chairman as he no longer heads the parent company LIC.

"This is to inform that Hemant Bhargava has ceased to be Non Executive Chairman of IDBI Bank consequent to his ceasing to be Chairman-in-charge of LIC with effect from March 14, 2019," IDBI Bank said in a regulatory filing.

 

The Ministry of Personnel on March 13 appointed M R Kumar as the Chairman of the Life Insurance Corporation (LIC) for a period of five years. Kumar took charge on Thursday.

IDBI Bank is now a private sector lender following acquisition of majority stake by LIC. Stock of IDBI Bank was trading 0.81 per cent down at Rs 42.75 on BSE.

Tags: idbi bank, hemant bhargava, non executive chairman
Location: India, Delhi, New Delhi