IDBI Bank Limited announced the appointment of Manoj Sahay, Joint Secretary & Financial Advisor, Government of India, Ministry of Finance, Department of Expenditure, and Sushil Kumar Singh, Director, Government of India, Ministry of Finance, Department of Financial Service, as Directors on the bank’s board.
According to the Bank’s exchange filing, “This is to advise that, vide communication dated April 11, 2022, Government of India has nominated Shri Manoj Sahay (Joint Secretary & Financial Advisor, Government of India, Minsitry of Finance, Department of Expenditure) and Shri Sushil Kumar Singh (Director, Governement of India, Ministry of Finance, Department of Financial Services) as Directors on the Board of the Bank vice Ms. Meera Swamp and Shri Anshuman Sharma respectively, with immediate effect and until further orders.”
Established in 1964, IDBI Bank is an Indian private sector bank and a subsidiary of Life Insurance Corporation that provides financial and banking services. Initially, the bank was established as Industrial Development Bank of India, a development finance institution, which provided financial services to industrial sector.
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