IDBI Bank has invited applications for the posts of two deputy managing directors (DMDs).
“The tenure of the candidates shall be three years, extendable by a further period of two years or attainment of age 60,” IDBI Bank said in an advertisement.
One of the current DMDs, K.P. Nair, retires in May. The other, G.M. Yadwadkar, was appointed in September 2016 for three years. He would retire in 2022.
Both were appointed by the government as the majority shareholder. Now, with LIC becoming the promoter, the appointments, including that of MD and CEO, would be made by the insurer.