Hemant Bhargava was appointed as the non-executive and non-whole time chairman of this bank.

IDBI Bank has appointed Hemant Bhargava as non-executive, non-whole time chairman. Bhargava is currently the Chairman (in-charge) and Managing Director of Life Insurance Corporation of India (LIC). The bank stated that Bhargava has been appointed for 3 years or until he continues in his position at LIC. The life insurer is now the majority shareholder in IDBI Bank with a 51% stake.