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ICICI Bank may ask independent directors to chair board meetings

The bank has government nominee Lok Ranjan on the board, who has not attended a single meeting since his appointment in April

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ICICI Securities, an arm of private sector ICICI Bank, has already set in motion the plan to launch an IPO

Last Updated : Jun 22 2018 | 2:14 AM IST

With ICICI Bank chairman M K Sharma set to retire at the end of this month, the bank is considering asking independent directors to chair board meetings till a new chairman is appointed.

Sources say each of the six independent directors will take turns in chairing the meetings. The bank has government nominee Lok Ranjan on the board, who has not attended a single meeting since his appointment in April.

LIC chairman VK Sharma attended the last board meeting on June 18 for the first time, after which MD and CEO Chanda Kochhar went on leave following a nudge from

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