IDBI Bank has announced the departure of two long-standing Independent Directors from its Board. Shri Samaresh Parida and Shri Jambunathan Narayanan have officially ceased their roles upon the completion of their two terms. The changes at the leadership level were effective as of the end of day on May 18, 2026. This transition marks the conclusion of their significant contributions to the bank’s governance and strategic oversight.
Board Composition Update
In a formal disclosure, IDBI Bank has confirmed a change in its board structure following the scheduled conclusion of terms for two of its Independent Directors. Shri Samaresh Parida (DIN 01853823) and Shri Jambunathan Narayanan (DIN 05126421) have stepped down from their respective positions, having served two full terms on the Board.
Effective Date of Departure
The cessation of their roles as Independent Directors was effective at the end of day on May 18, 2026. This move aligns with the bank’s governance policies regarding the tenure of its board members. The bank has officially recorded these changes, ensuring compliance with standard corporate administrative procedures as the organization moves forward with its current leadership team.
Source: BSE
