Axis board accepts Sharma s request for shorter term (Lead)

Mumbai April 9 (IANS) Lending major Axis Bank on Monday said its board has accepted the request of the company s Managing Director and CEO Shikha Sharma to be re-appointed for a shorter duration of time subject to regulatory approval.

According to a BSE filing Sharma requested to be on a revised re-appointed period from June 1 2018 up to December 31 2018.

"The board has accepted her request subject to the approval of the RBI (Reserve Bank of India) " the bank said in the BSE filing.

The board had earlier decided to re-appoint Sharma for a period of 3 years from June 1 2018 subject to approvals.

Sharma has served as the bank s Managing Director and CEO for around 9 years. In this period she has led the bank s next stage of growth.

However lately the rise in the bank s NPA levels has become a major cause of concern.

--IANS
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