Current Affairs - Banking - Discussion

IDBI Bank's Board of Directors has approved the appointment of Samuel Joseph Jebaraj as Deputy Managing Director (DMD) for a period of 3 years. He currently serves as Chief General Manager of the Loan Administration and Human Resources Management Groups of the Bank. The decision has been taken as per the approval received by the Reserve Bank of India (RBI). This is the first major appointment on the Bank's Board, in which LIC acquired a majority stake of 51 per cent in January 2019.