ICICI Bank on Thursday denied a news portal’s report that the lender’s MD & CEO Sandeep Bakhshi is planning to resign. ICICI Bank on Thursday said the “information is figment of imagination and therefore, completely baseless and misleading”.
“We would like to categorically deny the information published in the article regarding ICICI Bank’s MD allegedly expressing willingness to leave his position due to personal reasons. This information is figment of imagination and therefore, completely baseless and misleading. It appears that this rumour is being spread with an ulterior motive and malicious intent in order to harm the Bank and its stakeholders,” ICICI Bank said in a statement.
An article in The Morning Context, citing sources, reported that Bakhshi had expressed his desire to step down from his position as MD and CEO of ICICI Bank. “He has some personal emergency. That is why he wants to step down. The central bank suggested that he work remotely if the need arises, and requested him not to step down,” said the news portal.
The Reserve Bank of India (RBI) had in September last year approved to extend Bakhshi’s tenure by three years. This re-appointment, announced by the bank’s board in October 2022, was subsequently endorsed by shareholders during the annual general meeting.
Shares of ICICI Bank on Thursday fell by Rs 16.05 or 1.39 per cent to Rs 1,136 apiece on the BSE during the day at 1:09 pm.
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