State-run lender IDBI Bank has informed the stock exchanges that two independent directors — Ninad Karpe and S. Ravi — have quit the board.
In a filing with the BSE, the bank said that they had sent their resignation letters last week. Both of them were named by the Central Bureau of Investigation (CBI) in the first information report registered by the agency in the ₹600-crore loan fraud case involving former Aircel promoter C. Sivasankaran. S. Ravi is BSE chairman.
IDBI also said that the government had appointed Sudhir Shyam, a director in the Finance Ministry, on the board in place of Praveen Garg.
Central Bank
The government also nominated Bhusan Kumar Sinha, Economic Adviser in the Finance Ministry, on the board of State-run lender, Central Bank of India, in the place of Govind Mohan.
