ICICI Bank in a tizzy after CEO move comes out of left field

Sandeep Bakhshi’s feeler indicating he wants to be relieved has the RBI worried and the bank scrambling to find a replacement. It helps that it has a deep bench.

Sandeep Bakhshi has indicated that he wants to be relieved as managing director and CEO of ICICI Bank, according to three people with knowledge of the matter. 

“He has some personal emergency. That is why he wants to step down,” says one of them.

But the Reserve Bank of India is dead set against him stepping down. Rather, it is all for him to continue at the helm of the bank for as long as possible—which means Bakhshi, 63, could stay another seven years.

“The central bank suggested that he work remotely if the need arises, and requested him …


Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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