People walk past a branch of Axis Bank Ltd. (Photographer: Prashanth Vishwanathan/Bloomberg)  

RBI Approves Appointment Of Rakesh Makhija As Axis Bank Chairman

The Reserve Bank of India has approved appointment of Rakesh Makhija as chairman of Axis Bank Ltd., the private sector lender said on Monday. The Axis Bank board had in March approved Makhija’s appointment as chairman, subject to RBI’s approval.

“We would like to inform you that RBI vide its letter dated May 31, 2019 has approved the appointment of Rakesh Makhija (DIN: 00117692), independent director as the non-executive (part-time) chairman of the bank, for a period of three years, with effect from July 18, 2019, up to July 17, 2022 (both days inclusive),” Axis Bank said in a regulatory filing on Monday.

Makhija has been an active participant and contributor to industrial and technology sectors, both internationally and in India, during his career spanning over four decades.

He has held a number of top management positions within the SKF Group. Prior to joining SKF Group, he was the chief executive officer and managing director of Tata Honeywell Ltd.

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