IDBI Bank gets two independent directors on its board

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IDBI BANKFollowing the resignation of two board members last week, public lender IDBI Bank has announced the appointment of two new independent directors.

On May 19, 2018, the bank’s board approved the appointment of Samaresh Parida and N Jambunathan as Additional Directors.

While Samaresh Parida is a consultant, Jambunathan was former Deputy Managing Director of State Bank of India (SBI).

Last week, Ninad Karpe and S Ravi resigned from the post of independent directors of IDBI Bank’s board soon after Central Bureau of Investigation (CBI) filed a First Information Report (FIR) in connection with Rs 600 crore loan sanctioned by the bank to former Aircel promoter C Sivasankaran, his son and companies controlled by him.

The CBI named the two independent directors and many other officials in its FIR.

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