12 Oct 2009 13:08
Sub: Axis Bank Limited - Decisions taken at Board Meeting held on 12 th October, 2009
At the meeting of the Board of Directors of the Bank held today, the following decisions were taken:
1. To Appoint Shri V. R. Kaundinya, Managing Director, Advanta India Limited as an Additional Independent Director, with immediate effect.
2. The Bank is proposing to set up a non-banking financial company as a wholly-owned subsidiary to carry out investment and lending activities with focus on infrastructure and other activities as permitted by the Reserve Bank of India.
You are requested to take the above on record.