Axis Bank has received official approval from the Reserve Bank of India (RBI) to appoint Munish Sharda as the Executive Director of the company, effective February 27, 2024.
The announcement comes after Axis Bank’s earlier communication to the exchange regarding the approval of Munish Sharda’s appointment as a Whole-time Director, designated as ‘Executive Director’ of the Bank, effective from November 1, 2023, or the date of RBI’s approval, whichever was later.
‘We refer to our letter no. AXIS/CO/CS/390/2023-24 dated October 26, 2023, informing that the Board of Directors of the Bank has approved the appointment of Munish Sharda (DIN: 06796060), as a Whole-time Director, designated as ‘Executive Director’ of the Bank (including his terms and conditions and remuneration), effective from (i) November 1, 2023; or (ii) the date of approval of his appointment by Reserve Bank of India (“RBI”), whichever is later,’ Axis Bank stated in an exchange filing.
Following this, the RBI has officially approved Munish Sharda’s appointment as Executive Director for a period of three years, starting from February 27, 2024.
