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There's a standard process for senior appointments like Shikha Sharma: Axis

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

Press Trust of India  |  New Delhi 

Shikha Sharma
Axis Bank Chief Executive Officer Shikha Sharma (Photo: Kamlesh Pednekar)

Private sector on Monday said there was a standard process for senior appointments in the and the process of reappointment of MD and was still on.

The statement came in as a clarification sought from stock exchanges in response to a saying the had asked Bank to reconsider Sharma's reappointment.

Earlier in July 2017, the board of directors of the bank had approved the re-appointment of as the for three years with effect from June 1, 2018.

The board decision is pending regulatory approval.

The veteran is serving the second term that comes to an end in June 2018. She joined Bank in 2009 with a five-year mandate which was subsequently extended.

"The bank's board follows a standard process with regard to senior appointments, and forwards its recommendations to the regulator (to the extent required). This process is currently under progress," Axis Bank said in a regulatory filing.

"We have no further comments to offer as the report appearing in the media is speculative," the bank clarified.

were rife until a year ago about her re-appointment with the bank and also that she was sounded out by conglomerate to head company's financial services business.

Stock of Axis Bank ended 2.20 per cent down at Rs 498.20 on BSE.

First Published: Mon, April 02 2018. 16:52 IST