REG - Axis Bank Ltd Axis Bank Ltd (144A) - Outcome of Board Meeting

Axis BankAnnouncement

27/01/2026 11:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260127:nRSa5625Qa&default-theme=true

RNS Number : 5625Q  Axis Bank Limited  27 January 2026

AXIS/CO/CS/570/2025-26

 

January 27, 2026

 

 National Stock Exchange of India Limited  BSE Limited

 Exchange Plaza,                           P. J. Towers,

 Plot No. C/1, "G" Block                   Dalal Street

 Bandra-Kurla Complex                      Fort, Mumbai - 400 001

 Bandra (E), Mumbai - 400 051

 NSE Symbol: AXISBANK                      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")
 SUB.:  OUTCOME OF BOARD MEETING - RE-APPOINTMENT OF WHOLE-TIME DIRECTOR AND CHANGES
        IN SENIOR MANAGEMENT PERSONNEL

 

RE-APPOINTMENT OF WHOLE-TIME DIRECTOR

 

Pursuant to Regulation 30 of the SEBI Listing Regulations, we would like to
inform you that based on the recommendations of the Nomination and
Remuneration Committee, the Board of Directors (the "Board") of Axis Bank
Limited (the "Bank") at its meeting held today, i.e., January 27, 2026, has
approved the re-appointment of Subrat Mohanty as Whole-Time Director
(designated as Executive Director) of the Bank, for a further period of three
years with effect from August 17, 2026 up to August 16, 2029 (both days
inclusive), subject to approval of the Reserve Bank of India (RBI) and
approval of the members, in terms of applicable laws. Subrat Mohanty shall be
liable to retire by rotation.

 

Subrat Mohanty is not related to any of the directors or key managerial
personnel of the Bank. He has not been debarred from holding the office of a
director by virtue of any order passed by SEBI or any other regulatory/
statutory authority. Brief profile of Subrat Mohanty is attached as Annexure
A.

 

CHANGES IN SENIOR MANAGEMENT PERSONNEL

 

Pursuant to Regulation 30 of the SEBI Listing Regulations, we would like to
inform of the following changes in the senior management of the Bank:

 

Pursuant to the retirement of Prashant Joshi, Chief Credit Officer of the
Bank, with effect from close of business hours of June 30, 2026, Sudipto Nag
has been appointed as Chief Credit Officer of the Bank with effect from July
1, 2026. Consequent to the above change, Sudipto Nag will become senior
management personnel and Prashant Joshi will cease to be senior management
personnel under the provisions of the extant laws from the above-referred
respective dates. The details required as per SEBI circular no.
SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, are enclosed as Annexure
B.

 

The Board meeting commenced at 09:30 am (IST) and the above matters were
approved at 3.45 p.m.

 

This is for your information and records.

 

Yours faithfully,

For Axis Bank Limited

 

 

Sandeep Poddar

Company Secretary

CC:

London Stock Exchange

Singapore Stock Exchange

Annexure A

Brief Profile of Subrat Mohanty

 

Subrat Mohanty aged 49 years is the Executive Director of the Bank. He joined
the Bank in October 2020. He leads all functions under Retail & Wholesale
Banking Operations, IT & Digital Banking, Business Intelligence, Group
Strategy & Subsidiary Governance, Customer Experience, Vigilance and
Internal Audit.

Subrat has over 24 years of experience in different industries and functions.
In his previous stint, he served as the Group President of Manipal Education
& Medical Group, responsible for business performance and strategy across
the group's interests in Education, Healthcare, and Insurance.

 

Before joining the Manipal Group, Subrat was the COO of HDFC Life Insurance
Company Limited, responsible for various functions, including Strategy,
Operations, Technology, Digital and Health Insurance. Previously, at Infosys,
he held multiple leadership roles across Operations, Solutions, Strategy, and
technology-led Transformation Programs. Subrat started his career with
Andersen Consulting (now Accenture).

Subrat holds a Bachelor's degree in Mechanical Engineering from NIT, Rourkela
and has an MBA from Indian Institute of Management, Calcutta.

 

_____________

 

 

 

Annexure B

 

 Sr. No.  Particulars                                                                   Prashant Joshi                                           Sudipto Nag
 i.       Reason for change                                                             Cessation as Chief Credit Officer following retirement.  Appointment as Chief Credit Officer of the Bank.
 ii.      Date of appointment / re-appointment / cessation & term of appointment /      Date of Cessation:                                       Date of appointment: July 1, 2026

          re-appointment                                                                Close of business hours of June 30, 2026.
 iii.     Brief profile (in case of appointment)                                        NA                                                       Sudipto Nag is a senior banking professional with expertise in credit policy
                                                                                                                                                 design, portfolio risk management, debt servicing, governance, and
                                                                                                                                                 enterprise‑wide credit risk management. As President & Head - Retail
                                                                                                                                                 Portfolio Management Group at Axis Bank Limited, he oversees credit portfolio
                                                                                                                                                 strategy and performance across retail, SME, and rural lending. Further, he is
                                                                                                                                                 driving innovation across the credit lifecycle by leveraging AI to strengthen
                                                                                                                                                 risk assessment, debt allocation design and debt service management, while
                                                                                                                                                 ensuring strong asset quality and NPA containment.

                                                                                                                                                 In his 24 year career in financial services, Sudipto has held leadership roles
                                                                                                                                                 across business, credit, and collections in large private sector banks,
                                                                                                                                                 steering portfolios through multiple credit cycles with a focus on
                                                                                                                                                 establishing, strengthening and, and modernizing credit policy frameworks.

                                                                                                                                                 Sudipto is an MBA from Utkal University.
 iv.      Disclosure of relationship between directors (in case of appointment of a     NA                                                       NA
          director)

 

 

 http://www.rns-pdf.londonstockexchange.com/rns/5625Q_1-2026-1-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5625Q_1-2026-1-27.pdf)

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCDZGZMGNDGVZM



            Copyright 2019 Regulatory News Service, all rights reserved