RBI gives ICICI Bank permission to re-appoint Sandeep Batra as ED

21 Dec 2023 , 10:55 AM

The Reserve Bank of India (RBI) gave the private sector lender ICICI Bank permission on December 20 to reappoint Sandeep Batra as executive director (ED).

The bank stated, ‘RBI, by letter, approved Sandeep Batra’s reappointment as Executive Director of the bank, effective December 23, 2023, to December 22, 2025.’

On May 29, the bank’s shareholders approved Batra’s appointment as ED, which will take effect on the date the RBI gives its approval and last for five years. The same was put into effect on December 23.

The board of directors noted that Batra’s current three-year term as the bank’s executive director, approved by the RBI, expires on December 22, 2023. The reappointment of Batra for an additional two years, starting on December 23, 2023, and ending on December 22, 2025, was unanimously confirmed.

Since July 2018, Batra, an ED on the ICICI Bank Board, has been in charge of the Corporate Centre. Credit, corporate communications, finance, data science, human resources, legal, operations and customer service, technology, and secretarial groups are under his purview. In addition, he oversees the risk function, internal audit, and compliance teams administratively.

In addition, he is a board member of ICICI Venture, ICICI Prudential Asset Management, ICICI Lombard General Insurance, and ICICI Prudential Life Insurance.

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