ICICI Bank Appoints Former SEBI Whole-Time Member Ashwani Bhatia as Independent Director

ICICI Bank has approved the appointment of Ashwani Bhatia as an Additional Independent Director on its board, as per an exchange filing.  

The decision was taken through a resolution passed by circulation on 1 June 2026. His appointment is subject to shareholder approval and, if approved, will remain effective until 31 May 2031.  

Former SEBI Whole-Time Member 

Bhatia served as a Whole-Time Member of the Securities and Exchange Board of India (SEBI) from June 2022 to May 2025.  

During this period, he oversaw departments dealing with debt and hybrid securities, alternative investment funds, foreign portfolio investors, market intermediaries, corporate finance investigations, and investor assistance and education.  

Long Career with State Bank Group 

Before joining SEBI, Bhatia spent nearly 37 years with the State Bank Group. He joined State Bank of India (SBI) as a Probationary Officer in 1985 and worked across different functions within the bank and its subsidiaries.  

He later retired as Managing Director of SBI after holding several senior management positions.  

Experience Across Banking and Financial Markets 

Over his career, Bhatia has worked in areas including treasury operations, retail banking, credit, investment banking, and asset management.  

Prior to becoming SBI's Managing Director, he served as Managing Director and Chief Executive Officer of SBI Funds Management Limited.  

According to the bank's disclosure, he has more than 40 years of experience in banking and financial markets.  

Educational Background 

Bhatia holds a Bachelor of Science degree in Physics and Mathematics from Dayalbagh University, Agra. He also completed a Master of Business Administration (MBA) from the Podar Institute of Management in Jaipur.  

Regulatory Disclosure 

In its filing, ICICI Bank said Bhatia is not related to any director of the bank. It also stated that he has not been debarred from holding the office of director by SEBI or any other authority.  

The bank made the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.  

Read More: State Bank of India Prices $200 Million Senior Unsecured Bond, to be Issued via London Branch on June 5! 

ICICI Bank Share Price Performance 

As of June 2, 2026, 10:27 am, ICICI Bank share price was trading at ₹1,230.20, down 0.77% from the previous closing price. 

Conclusion 

Ashwani Bhatia's appointment as an Independent Director will take effect following shareholder approval. His proposed term is scheduled to run from June 2026 to May 2031. 

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