The Reserve Bank of India (RBI) has directed Axis Bank’s board to rethink its decision of giving the fourth three-year term to Shikha Sharma as its managing director and Chief Executive Officer.
The decision comes in the wake of rising menace of non-performing assets (NPAs) in the banking system.
Reportedly, RBI has sent a mail to Sanjiv Misra, chairman of Axis Bank, regarding board’s decision to re-appoint of Shikha Sharma.
RBI’s communiqué also pointed out bank’s performance and deteriorating asset quality condition over the years.
The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.
Get a chance to meet the Who's who of the BFSI industry. Join Us for 4th BFSI CTO Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.