Axis Bank appoints former RBI DG Vishwanathan as non-exec chairman

Axis Bank on Friday said it has appointed former Reserve Bank deputy governor NS Vishwanathan as the non-executive chairman. The third largest private sector bank’s board of directors approved the appointment of Vishwanathan as an independent director and non-executive (part-time) chairman for three years, as per an official statement.

His appointment will be effective from October 27 this year or the date of approval of his appointment by the Reserve Bank of India in case the approval is not received prior to October 27, it added. Vishwanathan, a career central banker, was handling critical areas like regulation and quit ahead of his scheduled retirement in 2020. “The (Axis) bank’s notable emphasis on corporate governance and sustainability has solidified its standing in the industry. I am keen to contribute to the Bank’s agenda and collaborate closely with the distinguished Board of Directors,” he said in the statement.

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“His profound knowledge, understanding of the financial sector and expertise in navigating the regulatory landscape will augment strategic decision-making, while further enhancing our commitment to uphold the highest standards of compliance and corporate governance,” the bank’s managing director and chief executive Amitabh Chaudhry said.