Axis Bank's Sanjiv Misra to continue as Non-Executive Chairman till June 7
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Sanjiv Misra will continue as Non-Executive Chairman of Axis Bank for next three months, the lender said on Tuesday.
The term of Misra, a nominee of SUUTI, as the Non-Executive Chairman of the bank, expired on March 7, 2016, upon completion of tenure of three continuous years, the filing said.
"SUUTI has re-appointed Sanjiv Misra as the Non-Executive Chairman of the Bank on a part-time basis, for a period of three months, with effect from March 8, 2016, up to June 7, 2016," it said.
The bank said that it will seek its board's approval to re-appoint Sanjiv Misra as the Non-Executive Chairman of the bank on a part-time basis.
The re-appointment of Misra is subject to the approval of the Reserve Bank of India (RBI) and the shareholders of the bank.
The Union Government holds 11.7% stake in Axis Bank through the Specified Undertaking of the Unit Trust of India (SUUTI).
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