Change in Senior Management

Puneet Sharma, Chief Financial Officer of Axis Bank Limited, has tendered his resignation on June 28, 2026. The resignation was submitted to pursue the next phase of his professional journey.

Effective Date: Sharma will be relieved from services at the close of business on August 31, 2026. He will cease to be a key managerial personnel and part of senior management from that date.

Handover Process: Sharma remains committed to ensuring a seamless and responsible handover of duties. He will also step down from the board of a subsidiary (name not specified) by virtue of his employment with the Bank.

Appreciation: The Bank has placed on record its appreciation for Sharma's contributions during his tenure.

Re-appointment of Directors

The Board of Directors, based on recommendations of the Nomination and Remuneration Committee, approved the following re-appointments at its meeting held on June 29, 2026:

CH S S Mallikarjunarao (DIN: 07667641)

  • Position: Re-appointment as Independent Director
  • Term: Second term of four years
  • Effective Period: February 1, 2027 to January 31, 2031 (both days inclusive)
  • Approval Required: Subject to approval of the members of the Bank
  • Background: 64-year-old professional banker with more than 37 years of experience. Former Managing Director & CEO of Punjab National Bank (until January 2022), former MD & CEO of Allahabad Bank (2018-2019), and former Executive Director of Syndicate Bank (since 2016).

Munish Sharda (DIN: 06796060)

  • Position: Re-appointment as Whole-Time Director (designated as Executive Director)
  • Term: Further period of three years
  • Effective Period: February 27, 2027 to February 26, 2030 (both days inclusive)
  • Approval Required: Subject to approval of Reserve Bank of India and the members of the Bank
  • Background: 55-year-old executive with more than 34 years of experience across banking, insurance, consumer goods, and engineering. Currently oversees retail assets, retail liabilities, branch banking, and commercial banking group at Axis Bank. Former Managing Director & CEO of Future Generali India Life Insurance.

Compliance and Governance Details

Regulatory Compliance: Both directors are not debarred from holding office by virtue of any order of SEBI or any other statutory authority.

Relationship Disclosure: Neither CH S S Mallikarjunarao nor Munish Sharda is related to any other directors or key managerial personnel of the Bank.

Meeting Details: The Board meeting commenced at 2:00 pm (IST) and concluded at 4:00 pm (IST) on June 29, 2026.

Regulatory References: Disclosure made under Regulation 30 of SEBI Listing Regulations. Additional details provided pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Annexures

Annexure A: Contains the resignation letter of Puneet Sharma dated June 28, 2026, addressed to Amitabh Chaudhry, Managing Director and CEO.

Annexure B: Comparative table detailing the reasons for change, dates/terms of reappointment, relationship disclosures, and brief profiles of the affected personnel.