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  Business   Economy  21 Jun 2018  ICICI Bank may appoint MD Mallya as its new chairman, says report

ICICI Bank may appoint MD Mallya as its new chairman, says report

THE ASIAN AGE
Published : Jun 21, 2018, 12:49 pm IST
Updated : Jun 21, 2018, 12:49 pm IST

MD Mallya served as the chairman of Bank of Baroda before joining the ICICI Bank board as an independent director.

India's second-largest private sector lender, ICICI Bank may go ahead with the decision of appointing MD Mallya as the new chairman, as per reports.
 India's second-largest private sector lender, ICICI Bank may go ahead with the decision of appointing MD Mallya as the new chairman, as per reports.

Mumbai: India's second-largest private sector lender, ICICI Bank may go ahead with the decision of appointing MD Mallya as the new chairman, as per reports.

According to the report, the bank has sought RBI's approval for the appointment of the new chairman.

 

“I believe the proposal was sent to the RBI after discussing with the board…The majority of the board is in favour of Mallya as the chairman. The RBI decision has to concur with board’s proposal in such matters. (Still) the bank is yet to hear from the RBI,” the executive in the report said on condition of anonymity.

MD Mallya served as the chairman of Bank of Baroda before joining the ICICI Bank board as an independent director.

The ICICI Bank Board met on Monday to decide the fate of its CEO Chanda Kochhar, after the meet the board decided to appoint ICICI Bank named group veteran Sandeep Bakhshi as its interim head. Chief Executive Chanda Kochhar went on leave pending the completion of a probe over an alleged conflict of interest in loans given to some borrowers.

 

CEO Chanda Kochhar was sent on leave until the commitee completes its inquiry in the alleged matter.

(With Agency Inputs)

Tags: icici bank, reserve bank of india, chanda kochhar, bank of baroda, md mallya
Location: India, Maharashtra, Mumbai (Bombay)