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ICICI Bank Ltd on Monday said its board has approved the appointment of Ashwani Bhatia as an Additional (Independent) Director for a five-year term from June 1, 2026 to May 31, 2031, subject to shareholder approval.
The appointment was approved through a resolution passed by circulation, the bank said in a regulatory filing.
ICICI Bank added that Bhatia is not related to any director of the bank and is not debarred from holding the office of director by any order of the Securities and Exchange Board of India (SEBI) or any other authority.
Bhatia served as a Whole Time Member at SEBI from June 2022 to May 2025, where he oversaw departments including debt and hybrid securities, alternative investment funds, foreign portfolio investors, market intermediaries regulation and supervision, corporation finance investigations, and investor assistance and education.
Prior to joining SEBI, Bhatia spent nearly 37 years with the State Bank Group after joining as a probationary officer in 1985.
He retired as Managing Director of State Bank of India and had earlier served as Managing Director and CEO of SBI Funds Management Ltd.
His experience spans treasury operations, retail banking, credit, investment banking and asset management.
Bhatia holds a Bachelor of Science degree in Physics and Mathematics from Dayalbagh University, Agra, and an MBA from Podar Institute of Management, Jaipur.
Shares of ICICI Bank Ltd closed at ₹1,238.60 on the NSE on June 1, down 1.42% or ₹17.80 from the previous close.
Also Read: HDB Financial Services appoints N Srinivasan as new Chairman
The appointment was approved through a resolution passed by circulation, the bank said in a regulatory filing.
ICICI Bank added that Bhatia is not related to any director of the bank and is not debarred from holding the office of director by any order of the Securities and Exchange Board of India (SEBI) or any other authority.
Bhatia served as a Whole Time Member at SEBI from June 2022 to May 2025, where he oversaw departments including debt and hybrid securities, alternative investment funds, foreign portfolio investors, market intermediaries regulation and supervision, corporation finance investigations, and investor assistance and education.
Prior to joining SEBI, Bhatia spent nearly 37 years with the State Bank Group after joining as a probationary officer in 1985.
He retired as Managing Director of State Bank of India and had earlier served as Managing Director and CEO of SBI Funds Management Ltd.
His experience spans treasury operations, retail banking, credit, investment banking and asset management.
Bhatia holds a Bachelor of Science degree in Physics and Mathematics from Dayalbagh University, Agra, and an MBA from Podar Institute of Management, Jaipur.
Shares of ICICI Bank Ltd closed at ₹1,238.60 on the NSE on June 1, down 1.42% or ₹17.80 from the previous close.
Also Read: HDB Financial Services appoints N Srinivasan as new Chairman
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