Sandeep Bakhshi, MD and CEO, ICICI Bank
The reappointment, the third since 2021, is subject to the approval of the Reserve Bank of India, shareholders and other approvals that may be required.
Banking leadership
Bakhshi has headed India’s second-largest private sector bank since October 15, 2018. Before his appointment as MD & CEO, he was a full-time director and Chief Operating Officer (COO) of the bank.
Bakhshi has been with the ICICI Group since 1986 and has held various assignments within the group at ICICI Limited, ICICI Lombard General Insurance, ICICI Bank and ICICI Prudential Life Insurance.
As per the RBI rules governing the appointment of MD & CEO or WTD (full-time director) in private sector banks, the post of MD & CEO/WTD cannot be held by the same incumbent for more than 15 years.
Thereafter, the person will be eligible for reappointment as MD & CEO or WTD in the same bank, if deemed necessary and desirable by the board, after a minimum period of three years, subject to fulfillment of other conditions, including not exceeding the maximum age limit of 70 years.
By the time Bakhshi completes his third reappointment as MD & CEO, he would be about 68.
To a specific question as to why the incumbent Chief has been reappointed for only two years, ICICI Bank Executive Director Sandeep Batra said in a media call, “I think there has been a discussion with the board and the MD, and it was considered appropriate that it be for a two-year term.
“But I just want to clarify: It’s almost three years from today. It starts in October 2026 and runs until October 2028. So it’s almost three years.”
Other reappointment
The Board of Directors also unanimously approved the reappointment of Ajay Kumar Gupta for a further period of two years with effect from November 27, 2026 to November 26, 2028. This is subject to the approval of the Reserve Bank of India, shareholders and other approvals that may be required.
Published on January 17, 2026
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