Facing enquiry over charges of nepotism and conflict of interest, ICICI Bank Managing Director and CEO Chanda Kochhar on Thursday quit the bank, six months before her current tenure was to end.

Kochhar, 57, has also resigned from all subsidiaries of the bank, including ICICI Securities, where she had sought reappointment as the chairperson. The board elevated Chief Operating Officer (COO) Sandeep Bakhshi as the new managing director and CEO for five years until October 3, 2023, ICICI bank said in a statement.