Shikha Sharma

Amitabh Chaudhry will be the new managing director and CEO of the bank with effect from January 1, 2019

She would be completing her third term as MD and CEO of Axis Bank on May 31

The Axis Bank board has accepted her request for a shorter seven-month term (from June 1 to December 31, 2018), subject to the approval of RBI, the bank said in a regulatory filing

Her current term comes to an end in June 2018

Reports of the Tata Group sounding her out have been making rounds in the industry

The underperformance over the last one year, analysts say, has been on account of the Bank's worsening asset quality led by its corporate loan portfolio.

This comment comes after RBI asked Axis Bank to reassess the veteran banker's 4th term as CEO

Shikha Sharma was appointed as the managing director and chief executive officer of Axis Bank in June 2009

Her loans to the infrastructure sector players resulted in high non-performing assets

The RBI letter also cited the bank's performance and deteriorating asset quality condition over the years