Axis Bank re-appoints Rajiv Anand as the Deputy MD w.e.f. Aug. 4

The board of Axis Bank on 10 January 2022 approved the re-appointment of Rajiv Anand as the Deputy Managing Director (MD) of the bank including the terms and conditions and his remuneration, for a period of 3 years, with effect from 4 August 2022.

Mr Rajiv Anand's re-appointment as the Deputy Managing Director for a three-year period (from 4 August 2022 to 3 August 2025, both days included) is subject to the approval of the Reserve Bank of India (RBI) and the members of the bank, in terms of the relevant provisions of the Companies Act, 2013, the relevant Rules made thereunder, the SEBI Listing Regulations, the Banking Regulation Act, 1949, the Guidelines issued by the RBI in this regard and in accordance with the Articles of Association of the Bank.

The private bank's net profit surged 86.21% to Rs 3133.32 crore on 2.99% increase in total income to Rs 20134.39 crore in Q2 FY22 over Q2 FY21.

Shares of Axis Bank lost 0.24% to Rs 741 on BSE. Axis Bank is a private sector bank offers the entire spectrum of financial services to customer segments covering large and mid-corporates, MSME, agriculture and retail businesses.

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