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ICICI Pru AMC announces Appointment of Independent Director
Apr-30-2026

ICICI Prudential Asset Management Company (AMC) has addendum to the Statements of Additional Information (‘SAIs’) of ICICI Prudential Mutual Fund and iSIF.

ICICI Prudential Mutual Fund has informed that, Prashant Kumar is appointed as an Independent Director on the Board of the AMC with effect from May 1, 2026. The details of the directors of the AMC stands modified in the SAIs of the Fund and iSIF in the following manner:

Prashant Kumar (65 years), holds a B.Sc. in Science and law from Delhi University. Kumar was appointed as Managing Director & Chief Executive Officer of YES BANK (Bank) post Reconstruction of the Bank in March 2020. He held the position of Managing Director & CEO of the Bank till April 5, 2026. Under his leadership, the Bank embarked on transformation journey to emerge as a re-energised, re-capitalised and recalibrated organisation, while continuing to fulfill its unwavering commitment towards its customers and stakeholders. This has been one of the rare instances, where an Indian banking institution has been a real turnaround from the brink of collapse within an extremely short time frame of just one year. He led the systematic rebuilding of the YES Bank’s core foundation including repaying the Reserve Bank of India’s Special Liquidity Facility, raising equity capital, and restoring the Bank’s balance sheet through intense reviews and asset quality improvements. Furthermore, during his tenure the Japan’s Sumitomo Mitsui Banking Corporation (SMBC) became the strategic partner of YES BANK by acquiring 24.9% stake in September 2025.

Prior to joining YES BANK, Kumar was Deputy Managing Director & CFO of State Bank of India (SBI), India’s largest Bank. He served SBI in various capacities and has a rich experience in diverse fields ranging from credit to human resources. He joined the SBI as Probationary Officer in 1983 and during his 34 years of service with SBI, he has held various key assignments including Dy. Managing Director (HR) & Corporate Development Officer, Dy. Managing Director & Chief Operating Officer, Chief General Manager, Kolkata Circle, General Manager, Local Head Office Mumbai, DGM (Industrial relations) and faculty in SBI’s Apex Training Institute - State Bank Academy, Gurugram. He holds degree in science and a law from Delhi University.

It may be noted that Prashant Kumar would be holding the office of directorship as an Additional Director of the AMC until his appointment as an Independent Director on the Board of the AMC is approved at the meeting of shareholders of the AMC. 

All the other provisions of the SAI of the Fund and iSIF except as specifically modified herein above remain unchanged. This Notice-cum-Addendum forms an integral part of the SAIs as amended from time to time.
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