CHANGE OF GUARD AT ICICI BANK AT CHAIRMAN LEVEL EFFECTIVE FROM 01-JULY-2024

CHANGE OF GUARD AT ICICI BANK AT CHAIRMAN LEVEL EFFECTIVE FROM 01-JULY-2024


Dear  Readers,

A news came in public media, if some of you might have seen, that RBI has approved appointment of Shri Pradeep Kumar Sinha ( Mr. P. K. Sinha as he was known more while he was placed as the Cabinet Secretary of India and also in PMO until 2021 ), as the New Chairman of ICICI Bank effective from 01-July-2024.

If any of you have not seen this news and would like to read, giving the link of The Economic Times news here below:

RBI approves appointment of Pradeep Kumar Sinha as Part-time Chairman of ICICI Bank

It is Regulatory Compliance in India right now, that RBI Approves the appointments, before the Appointment of all the Directors/Board Level Positions of all the Scheduled Banks regulated by RBI.

Mr. P. K. Sinha, former IAS,  has been the Cabinet Secretary of India, in the recent past and he was also placed in the PMO with critical responsibilities until 2021. The Cabinet Secretary is supposed to be the Bureaucrat-1 in India among the Bureaucracy of India, and even from the Civil Services (IAS) everyone can not reach there without proven standing in various parameters.

Although Mr. P. K. Sinha has been an Independent Director of ICICI Bank in last couple of years, he will be taking over as its Chairman with effect from 01-July-2024 as the news report cited says.

The Nation may expect, the Change of Guard at Chairman level at ICICI Bank and Mr. P. K. Sinha taking over as the Chairman of ICICI Bank, may bring in necessary positive changes also for Governance Purpose.  Further Changes after the appointment of Mr. P.K. Sinha as Chairman can not be ruled out.

The Part-time and Non-Executive Chairman is a legal nomenclature of the Chairman of the Board of Directors of the said Bank.

It is not said but understood, when the Governance Standards are made robust in the Large Banks of the Nation (whether Public Sector or Private Sector) by proper assessment and identification, the National Economy will benefit and remain conditioned better.

With best regards,
Dr. Nimain Charan Biswal,
Mumbai, India


About the Author: Dr. Nimain Charan Biswal is a B.Sc.(Agri. Science and Technology), M.B.A. and Ph.D.(Management Area ) by qualifications; and he has 38+ years of work experience in both industrial and development sectors in diversified fields of social importance. He has been educated at Orissa University of Agriculture and Technology (OUAT)-Bhubaneswar, Institute of Rural Management Anand (IRMA) and Gujarat University (with Resource Support of IIM-Ahmedabad). He is further educated at IIM-Calcutta, XLRI-Jamshedpur, Apple Computer Industries and Spar Inc., USA. He has worked for reputed National and International Organizations in Senior/Top Management Capacities at Board level as well as Managing Director and CEO. He is a management expert covering extensive areas from management in industrial sectors, management in agriculture and dairy, development management to management of public systems. He is a prominent professional of India and known Internationally as well. He lives at Mumbai in India.

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