State Bank of India’s Managing Director (MD) B Sriram was today appointed as the MD and chief executive officer (CEO) of IDBI Bank for a temporary period of three months, according to an official order.
Replacing outgoing IDBI Bank CEO Mahesh Kumar Jain, who has been appointed the Reserve Bank of India’s deputy governor, the Prime Minister Narendra Modi-headed Appointments Committee of the Cabinet (ACC) has given a nod to the appointment of Sriram as Managing Director and Chief Executive Officer of IDBI Bank for a temporary period of three months with effect from Jain’s demitting office.
Sriram joined the country’s largest lender in 1981 as a Probationary Officer. During over three-decade-long career, he held several key positions and also had a stint at SBI’s Singapore office. He had also been Managing Director of State Bank of Bikaner and Jaipur, an associate bank that under the largest public lender’s drive aimed at rationalising resources and improving profits, was later merged with SBI, along with its five associate banks.