K.P. Nair, one among the sitting Deputy Managing Directors, is set to retire in May 2019. G.M. Yadwadkar, would be retiring in 2022 after completing his stipulated tenure of three years since his appointment on September 2016.
IDBI Bank is, therefore, looking to fill the positions for two Deputy Managing Directors, according to an advertisement.
“The tenure of the candidates shall be three years, extendable by a further period of two years or attainment of age 60,” according to the bank’s advertisement.
Now that the LIC is one of the promoters, major appointments including that of the Managing Director and CEO would be made by the insurance giant. The current DMDs were previously appointed by the government.
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