The government has appointed former Canara Bank MD and CEO Rakesh Sharma as MD and CEO of IDBI Bank. He has taken charge of the position. He will have an interim tenure of 6 months. He had been with Canara Bank for 3 years from September 2015 and has been holding the position of chairman in the group companies of the bank. Prior to that he was heading Lakshmi Vilas Bank. He had started his career at State Bank of India before moving to Lakshmi Vilas Bank in 2014. He worked for over 33 years in SBI, holding key positions that included head of Mid Corporate Accounts in the Andhra Pradesh region, supervising retail operations in Rajasthan, Uttarakhand and Western Uttar Pradesh, banking operations in the International Banking Group, credit assignments in specialized branches/administrative offices, among others. He was among the two CEOs of public sector banks hired laterally by the government.
