RBI approves re-appointment of Amitabh Chaudhry as MD & CEO of Axis Bank for three years

The Reserve Bank of India (RBI) has approved the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of the Axis Bank for three more years, effective January 1. This comes after the shareholders of the lender approved Chaudhry’s re-appointment earlier this year. 

“We now wish to inform you that the Reserve Bank of India vide its letter no. CO.HGG.DOR.No.S4419/08.86.001/2024-25 dated October 24, 2024, has approved the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of the Bank, for a period of three years w.e.f. January 1, 2025 till December 31, 2027 (both days inclusive),” the lender stated in a filing. 

The shareholders had approved Chaudhry’s re-appointment at the 30th Annual General Meeting on July 26. 

Meanwhile, shares of Axis Bank Ltd were trading on a positive note despite an overall weakness in the banking pack and domestic benchmarks. The stock was last seen trading 0.85 per cent higher at Rs 1,177.90.

WHO IS AMITABH CHAUDHRY

The MD and CEO of Axis Bank had joined the company on January 1, 2019, before which he was with HDFC Standard Life Insurance Company for over nine years. 

Chaudhry is an engineer from Birla Institute of Technology and Science, Pilani and is a post graduate in Business Management from IIM, Ahmedabad. He started his career in 1987 with Bank of America, where he served in various roles such as Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets, Chief Finance Officer of Bank of America (India) and Relationship Manager in Wholesale Banking for Mumbai and Delhi.

He moved to Credit Lyonnais Securities in 2001 as Head of Structured Finance practice and then took over as the Head of Investment Banking franchise for South East Asia, before joining Infosys BPO in 2003. 

Chaudhry was also the Managing Director and CEO of Infosys BPO and the Head of testing unit of Infosys Technologies before heading to HDFC Life.