Rakesh Sharma IDBI Bank Career and Appointments

Rakesh Sharma's career at IDBI Bank was a significant chapter in his life. He joined the bank in 1980 as a Probationary Officer.

During his tenure, Rakesh held various positions, including that of a Chief General Manager. His leadership skills and expertise were instrumental in shaping the bank's growth.

Rakesh's dedication and hard work led to his appointment as the Managing Director of IDBI Bank in 1995.

A fresh viewpoint: Key Bank Personal Banker

Rakesh Sharma has been appointed as the head of IDBI Bank, a position he has held for various periods. He was first appointed as managing director for a period of six months.

Sharma has experience heading a large public sector bank, having previously served as managing director of Canara Bank. He completed his three-year term in Canara Bank in July 2018.

The government appointed Sharma after the tenure of B Sriram ended in September 2018. Sharma's appointment came through a rigorous process that also considered private sector candidates.

You might enjoy: Bankers' Bank

IDBI Bank's Board of Directors has approved the re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer of the Bank for a period of three years. This re-appointment is as per approval of the Reserve Bank of India received in this regard.

Sharma had joined IDBI Bank as MD & CEO in October 2018, after serving as MD & CEO of Canara Bank from September 2015 till July 2018. LIC is the promoter of IDBI Bank, with management control, and has a 49.24 per cent stake in the private sector lender.

Expand your knowledge: Td Bank Ceo Bharat Masrani Has Announced His Retirement.

Rakesh Sharma started his career with State Bank of India (SBI) as a probationary officer in 1980 and served the bank till 2014.

He held various portfolios, including lending to mid-corporate accounts in Andhra Pradesh region and supervising retail operations in Rajasthan, Uttarakhand, and Western UP.

Sharma also served as Chief Executive Officer of SBI Japan, where he directed operations of SBI branches in Tokyo and Osaka.

In 2014, he joined Lakshmi Vilas Bank (LVB) as the MD and CEO, leading the bank's rapid growth and internal governance.

Sharma played a crucial role in reviving public sector banks as part of the Government of India's Mission Indradhanush in 2015.

He joined Canara Bank in September 2015 and led a reorganisation drive, moving the bank from a three-tier to a four-tier organisation structure.

Sharma has also raised capital for the bank through stake sales and monetising its investments in subsidiaries like Can Fin Homes.