ICICI Bank shares gain 2.5% after RBI approves 3-year term for Bakhshi as chief

Shares of ICICI Bank gained 2.5 per cent Tuesday after the Reserve Bank approved appointment of Sandeep Bakhshi as the company's Managing Director and Chief Executive Officer for three years.

The scrip ended the day 2.51 per cent higher at Rs 321.05 on BSE. During the day, it surged 3.12 per cent to Rs 323.

At NSE, shares of the company went up 2.32 per cent to close at Rs 320.65.

ICICI Bank Tuesday informed the stock exchanges that RBI has cleared Bakhshi's appointment for three years effective from October 15.

In recent months, RBI seems to be exercising a cautious approach when it comes to reappointment of chiefs of private sector banks, especially against the backdrop of rising non-performing assets in the banking system.