Mumbai: ICICI Bank on Wednesday said that the Reserve Bank of India (RBI) has approved the appointment of Sandeep Bakhshi as its chief operating officer (COO). Mr Bakhshi's appointment will take effect from July 31, the private sector banking major said in a regulatory filing.
"We wish to inform you that the RBI has approved the appointment of Sandeep Bakhshi as Wholetime Director designated as Chief Operating Officer (COO) of the bank with effect from July 31, 2018, till July 30, 2021," the company said in a filing to stock exchange BSE.
"We affirm that Bakhshi is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India or any other such authority," it added.
ICICI Bank had in June this year appointed Mr Bakhshi as chief operating officer (COO). Mr Bakhshi will report to the bank's CEO and managing director Chanda Kochhar. He will be responsible for handling all the businesses and corporate centre functions at ICICI Bank, it had said.
Mr Bakhshi joined the ICICI Bank group on December 1, 1986, in the project financing group of ICICI Limited. In the bank, he was responsible for the wholesale banking, and Small and Medium enterprises business. He was appointed the managing director and CEO of ICICI Lombard General Insurance Company on April 1, 2002. Mr. Bakhshi was appointed as the Deputy Managing Director and had handled both the Retail and Corporate Banking business of ICICI Bank Limited, from May 1, 2009 to July 31,2010, according to the filing.
He was thereafter appointed the managing director and CEO of ICICI Prudential Life Insurance Company from August 1, 2010.
Mr Bakhshi has obtained his bachelors' degree in mechanical engineering from Punjab Engineering College, Chandigarh and a post graduate degree in management from Xavier Labour Relations Institute, Jamshedpur. He has over 32 years of experience in finance, banking and insurance, ICICI Bank added.
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