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Today 12:40
AXIS/CO/CS/208/2026-27
June 29, 2026
National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, "G" Block Bandra-Kurla Complex Bandra (E), Mumbai - 400 051
NSE Symbol: AXISBANK | BSE Limited P. J. Towers, Dalal Street Fort, Mumbai - 400 001
BSE Scrip Code: 532215 |
Dear Sir/Madam,
REF.: DISCLOSURE UNDER REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE
REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS")
CHANGE IN SENIOR MANAGEMENT:
Puneet Sharma, Chief Financial Officer of the Bank has tendered his resignation on June 28, 2026 to pursue next phase of his professional journey. He will be relieved from the services of the Bank at the close of business on August 31, 2026 and shall cease to be the key managerial personnel and a part of senior management of the Bank with effect from that date.
A copy of the resignation letter as required under Schedule III, Part A, Para A (7C) of is attached as Annexure A. The Bank places on record its appreciation for Puneet Sharma's contribution during his tenure and wishes him the very best in his future endeavours.
RE-APPOINTMENT OF DIRECTORS:
Based on the recommendations of the Nomination and Remuneration Committee, the Board of Directors of the Bank at its meeting held today i.e. June 29, 2026 has approved the following:
a) Re‑appointment of CH S S Mallikarjunarao (DIN: 07667641) as an Independent Director of the Bank for second term of four years with effect from February 1, 2027 up to January 31, 2031 (both days inclusive), subject to approval of the members of the Bank.
b) Re‑appointment of Munish Sharda (DIN: 06796060) as Whole-Time Director (designated as Executive Director) of the Bank for a further period of three years with effect from February 27, 2027 up to February 26, 2030 (both days inclusive), subject to approval of the Reserve Bank of India and the members of the Bank.
Please note that CH S S Mallikarjunarao and Munish Sharda are not debarred from holding the office of director by virtue of any order of SEBI or any other statutory authority.
The details required pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are enclosed as Annexure B.
The meeting commenced at 2.00 pm (IST) and concluded at 4.00 pm (IST).
Thanking You.
Yours faithfully,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
CC: London Stock Exchange
Singapore Stock Exchange
Annexure A
Resignation of Puneet Sharma, Chief Financial Officer of the Bank
Annexure B
Sr No. | Particulars | CH S S Mallikarjunarao | Munish Sharda | Puneet Sharma |
1 | Reason for change | Re‑appointed as an Independent Director of the Bank. | Re‑appointed as Whole-Time Director (designated as Executive Director) of the Bank. | Resignation |
2 | Date of reappointment and term of reappointment | Four years with effect from February 1, 2027, up to January 31, 2031 (both days inclusive). | Three years with effect from February 27, 2027, up to February 26, 2030 (both days inclusive). | Date of cessation: Close of business on August 31, 2026. |
3 | Disclosure of relationship between directors | CH S S Mallikarjunarao is not related to any other directors or key managerial personnel of the Bank. | Munish Sharda is not related to any other directors or key managerial personnel of the Bank. | NA |
4 | Brief Profile | CH S. S. Mallikarjuna Rao, aged 64 years, is a professional banker with more than 37 years of experience.
He started his banking career as a probationary officer in Bank of Maharashtra in 1985. He retired as Managing Director & CEO (MD & CEO) of Punjab National Bank (PNB) in January 2022. Prior to assuming the position of MD & CEO of PNB, he was MD & CEO of Allahabad Bank from September 2018 to September 2019. Before this, he served as Executive Director of Syndicate Bank since 2016. He has also held various positions in Oriental Bank of Commerce including as General Manager, Chief Financial Officer, Head of Information Technology, Digital Banking and Risk Department, etc. | Munish Sharda, aged 55 years, has more than 34 years of experience across banking, insurance, consumer goods, and engineering. As an Executive Director of the Bank, he is responsible for overseeing a comprehensive portfolio that includes retail assets, retail liabilities, branch banking, and the commercial banking group.
Before joining the Bank, Munish Sharda was the Managing Director & CEO of Future Generali India Life Insurance. Earlier in his career, he spent more than a decade with Citibank India (Global Consumer Bank) across geographies and product lines. He has also held roles at Blow Plast Limited and Larsen & Toubro Limited, giving him a uniquely broad, cross-sector perspective. | NA |
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