 "Shikha Sharma")
The Reserve Bank of India (RBI) has asked Axis Bank’s board to reconsider the decision to re-appoint Shikha Sharma as managing director and chief executive officer for a fourth term, amid concerns over rising bad loans at the private sector lender, sources said.
The move comes against the backdrop of persisting concerns over mounting non-performing assets (NPAs) in the banking sector.
Sources said the RBI sent a letter to Axis Bank Chairman Sanjiv Misra, who is also former expenditure secretary, regarding the board’s decision to re-appoint Sharma.
According to sources, the RBI letter also cited the bank’s performance and deteriorating asset quality condition
