Axis Bank director dead

Axis Bank Director AT Pannir Selvam passed away today evening. He had a heart attack at the Mumbai airport while he was proceeding to take a flight to Chennai.

Pannir Selvam, 70, breathed his last on his way to Balabhai Nanavati Hospital in Mumbai at around 5:30 p m today. Hospital authorities said he was brought dead.

Pannir Selvam, who had joined the Axis Bank board in June 2003 as the nominee of the Specified Undertaking of the Unit Trust of India (SUUTI), started his career at the Indian Overseas Bank in 1964, where he worked for 25 years.

He was present at the Axis Bank board meeting yesterday and supported Shikha Sharma's appointment as the bank's new MD & CEO.

He was also the chairman and managing director of the Union Bank of India between 1993 and 2000, and the executive director of the Bank of India between 1990 and 1991. He was acting chairman and managing director during 1991-92.

Pannir Selvam has also been the non-executive independent director of Rolta India. He retired in March 2000 as the chairman of Indian Banks' Association where he served from 1997 to 2000.

Pannir Selvam was appointed as chairman of several high-powered committees and director of several public sector undertakings by the Government of India and the RBI. Pannir Selvam held a Master’s degree in Economics from St Stephen’s College, Delhi.