Former SBI MD B Sriram takes charge as MD and CEO of IDBI Bank

B Sriram today assumed charge as Managing Director and CEO of IDBI Bank, according to a regulatory filing.

Sriram was appointed MD and CEO in place of Mahesh Kumar Jain who recently took charge as deputy governor of the Reserve Bank of India (RBI).

Sriram has been working as the MD (Corporate and Global Banking) in SBI since July 2014.

The board of Insurance Regulatory and Development Authority of India (Irdai) yesterday permitted Life Insurance Corporation (LIC) to increase the current stake from 10.82 per cent to 51 per cent in IDBI Bank.