IDBI Bank on Monday announced that Raj Kumar has ceased to serve as the LIC Nominee Director on its board, effective May 18, 2025, upon completion of his term.

In a regulatory filing, the bank stated, "Raj Kumar has ceased to be LIC Nominee Director on the Board of IDBI Bank Limited with effect from May 18, 2025."

IDBI Bank's promoters—the Government of India and Life Insurance Corporation (LIC)—jointly hold a 94.71% stake in the bank, with LIC owning just over 49% and the government holding 45.48%.