ICICI Bank Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - This is further to our letter dated January 17, 2026 intimating the Board s unanimous approval for the re-appointment of Mr. Sandeep Bakhshi (DIN: 00109206) as Managing Director & CEO of the Bank for a further period of two years with effect from October 4, 2026 to October 3, 2028, subject to approval of Reserve Bank of India (RBI), shareholders, and such other approvals as may be required.RBI has, vide its letter dated May 22, 2026, approved the re-appointment of Mr. Sandeep Bakhshi for a period of two years from October 4, 2026. The approval of the shareholders will be sought in due course of time.
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ICICI Bank has received RBI approval for the re-appointment of Mr. Sandeep Bakhshi as Managing Director & CEO for a period of two years from October 4, 2026. The Board had given its unanimous approval for this re-appointment earlier in January 2026. The appointment was subject to RBI approval, shareholders' approval, and other necessary approvals. With RBI's approval now obtained on May 22, 2026, the bank will seek shareholder approval in due course. Sandeep Bakhshi's current term ends on October 3, 2026.
Positive for shareholders as this ensures leadership continuity at India's second-largest private sector bank. The RBI approval removes regulatory uncertainty ahead of the leadership transition timeline.