ICICI Bank has appointed Ashwani Bhatia, former Whole-Time Member of SEBI, as an Additional Independent Director on its board for a 5-year term, further strengthening its leadership with extensive expertise in banking, financial markets, and regulation.
The appointment was approved by the bank’s Board of Directors through a resolution passed by circulation on June 1, 2026, and will be effective from June 1, 2026, to May 31, 2031.
In a regulatory filing, ICICI Bank stated that Bhatia is not related to any director of the bank and is not debarred by SEBI or any other regulatory authority from holding the office of director.
Ashwani brings more than 40 years of experience across banking operations, treasury, asset management, credit, financial markets, and regulatory oversight. Most recently, he served as a Whole-Time Member of the Securities and Exchange Board of India (SEBI) from June 2022 to May 2025.
During his tenure at SEBI, Ashwani oversaw several key departments, including Debt and Hybrid Securities, Alternative Investment Funds (AIFs), Foreign Portfolio Investors (FPIs), Market Intermediaries Regulation and Supervision, Corporation Finance Investigation, and Investor Assistance and Education.
Ashwani also played a significant role in strengthening market oversight and regulatory enforcement, passing several impactful orders related to fund diversion, corporate governance issues, stock manipulation, and other market-related violations.
His appointment is expected to add valuable regulatory and financial market expertise to ICICI Bank’s board as the institution continues to navigate an evolving banking and compliance landscape.
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