IDBI Bank has reappointed Rakesh Sharma as its Managing Director (MD) and Chief Executive Officer (CEO) for another three-year term. The decision, sanctioned by the Board of Directors on January 23, 2025, and effective from March 19, 2025, underscores the Reserve Bank of India’s (RBI) approval of Sharma’s stewardship.
Rakesh Sharma’s illustrious career spans over four decades in the banking industry, marked by a profound expertise across diverse domains. Beginning his journey with the State Bank of India (SBI), he demonstrated an exceptional aptitude in handling credit assignments at specialized branches, managing international banking operations at the Tokyo Branch, and overseeing HR and retail functions across multiple regions. Notably, his tenure as Head of the Mid Corporate Group in undivided Andhra Pradesh and as Chief General Manager of the Patna Circle provided him with a comprehensive understanding of India’s banking landscape.
Sharma’s leadership trajectory saw him transition from SBI to Lakshmi Vilas Bank Ltd., where he served as MD & CEO from March 2014 to September 2015. This role was followed by an impactful three-year tenure as MD & CEO of Canara Bank, concluding with his retirement in July 2018. During his time at Canara Bank, Sharma’s influence extended beyond the organization as he chaired its group companies, steering them toward enhanced operational efficiency.
Taking the reins at IDBI Bank in October 2018, Sharma has been instrumental in transforming the institution’s operational and financial metrics. His tenure has been marked by a steadfast commitment to sustainable growth and stability. The decision to extend his leadership reflects the Board’s confidence in his ability to continue navigating the challenges and opportunities of the banking sector with aplomb.
Sharma’s influence extends beyond IDBI Bank. As the President of the Governing Body of the Entrepreneurship Development Institute of India (EDII) and a member of the Managing Committee of the Indian Banks’ Association (IBA), he brings a wealth of experience and foresight to the broader financial ecosystem. Additionally, his roles as Non-Executive Director and Chairman of IDBI Capital Markets & Securities Ltd. and IDBI Intech Limited further attest to his multifaceted expertise.
The reappointment of Rakesh Sharma is not merely a nod to his past achievements but a forward-looking decision aimed at fostering innovation, resilience, and progress within IDBI Bank. As the institution prepares for its next chapter, it does so with the assurance of a seasoned leader at its helm, ready to navigate the complexities of a dynamic financial landscape.
