Icici Bank yesterday based on stock exchange information that Rama Bijapurkar will drop as an independent director starting tomorrow for the potential conflict of interest.
Bijapurkar in his resignation letter revealed that he was engaged to educational institutions where he taught market and business strategies and was associated with a non-profit organization where he examined the Indian consumer economy.
“To avoid the possibility of ambiguity in my position on every date in the future as a result of this activity, I have decided to step down,” read his resignation letter.
This letter:
With regret that I submit a resignation from the ICICI Board of Bank Ltd. I was recently given to understanding with the management of my teaching activities in the field of market and business strategies in educational institutions and my research of Indian consumer economic activities at the non-profit research center that I was related, which might require me to occasionally get involved with a financial service company Other or investor communities, can violate conflicts of bank banks and regulators – even if there are no direct remuneration obtained.
To avoid the possibility of ambiguity in my position on future dates as a result of this activity, I have decided to retreat. The effective date of my resignation is January 23, 2022 and I would like to confirm that there is no other material reason for my resignation other than the mentioned above.
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