Axis Bank approves appointment of Subrat Mohanty as a whole-time director

Axis Bank, on Friday, announced the appointment of Subrat Mohanty as a whole-time director on the company’s board, with effect from May 1, 2023.

In a filing with the stock exchanges, the company said, “this is to inform you that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of Axis Bank Limited (“the Bank”) at its meeting held today, i.e. April 28, 2023, has approved the appointment of Subrat Mohanty (DIN: 08679444) as a Whole-time Director, designated as “Executive Director” of the Bank (including his terms and conditions and remuneration), effective from (i) May 1, 2023; or (ii) the date of approval of his appointment by Reserve Bank of India (“RBI”), whichever is later”.

The appointment is for a period of three years and is subject to approval of the shareholders of the Bank and RBI. Subrat Mohanty would be liable to retire by rotation, said the company statement.

Subrat Mohanty, age 46 years is the Group Executive – Banking Operations & Transformation at Axis Bank Limited since October, 2020. He leads all functions under Retail & Wholesale Banking Operations, Information Technology, Strategy and Business Intelligence Unit of the Bank.

Subrat has more than 23 years of experience, spanning different industries and functions. In his previous stint, he served as the Group President at Manipal Education & Medical Group responsible for business performance and strategy across the group’s interests in Education, Healthcare and Insurance. Prior to joining Manipal group, he was the COO, HDFC Life Insurance Company Limited responsible for a wide range of functions including Strategy, Operations, Technology, Digital and Health Insurance. Previously, at Infosys, he has been in a variety of leadership roles across Operations, Solutions, Strategy, and technology-led Transformation Programs. He started his career with Andersen Consulting (now Accenture).