The Board of Directors (the Board) of AXIS Bank Ltd at its meeting held today has taken on record the approval granted by the Reserve Bank of India (RBI) to the appointment of Shri Amitabh Chaudhry as the Managing Director & CEO of the Bank, for a period of 3 years, with effect from 1st January 2019 up to 31st December 2021 (both days inclusive) and the terms and conditions relating to the said appointment, including remuneration.
A meeting of the Board will be convened in due course to approve the appointment of Shri Amitabh Chaudhry as an Additional Director of the Bank and as the Managing Director & CEO of the Bank, in terms of the said RBI approval and subject to compliance with the prescribed formalities under extant laws.
Mr. Amitabh Chaudhry, age 54 years, is the Managing Director & CEO of HDFC Standard Life Insurance Company Ltd ("HDFC Life"). He has been associated with HDFC Life since January 2010.
Mr. Chaudhry started his career in the Corporate Banking with Bank of America in 1987, where he worked in diverse roles ranging from Country Finance Officer, Head of Wholesale and GCMG Finance in Asia Division and thereafter as Managing Director and Head Technology Investment Banking, Asia. Mr. Chaudhry was also associated with CALYON Bank (formerly Credit Lyonnais Securities Asia (CLSA), as its Managing Director, Head South East Asian Investment Banking and Head Technology Investment Banking.
Prior to joining HDFC Life, he joined Infosys BPO Ltd. in 2003 and was elevated as its Managing Director & CEO in 2006. He was also Head - Independent Validation & Testing Unit (IVS) of Infosys Technologies Ltd.
Mr. Chaudhry is a B. Tech in (Electronic & Electricals) from the Birla Institute of Technology & Science, Pilani and is an alumnus of Indian Institute of Management, Ahmedabad.
Shares of AXIS BANK LTD. was last trading in BSE at Rs.645.15 as compared to the previous close of Rs. 639.05. The total number of shares traded during the day was 897384 in over 6211 trades.
The stock hit an intraday high of Rs. 648 and intraday low of 632.35. The net turnover during the day was Rs. 576549066.