Axis Bank appoints former RBI Deputy Governor, N.S. Vishwanathan as Non-Executive (Part-time) Chairman

New Delhi, June 17, 2023: The Board of Directors of Axis Bank at its assembly held right this moment accepted the appointment of N. S. Vishwanathan, Independent Director as the Non-Executive (Part-time) Chairman of the Bank for a interval of three years, topic to approval of the shareholders of the Bank and Reserve Bank of India. His appointment will likely be efficient from October 27, 2023, or the date of approval of his appointment by the Reserve Bank of India (“Approval”) in case the Approval shouldn’t be acquired previous to October 27, 2023.

Mr. Vishwanathan joined the Reserve Bank of India in 1981 and retired in March 2020 as the Deputy Governor, spanning an illustrious profession of almost 4 many years on the central financial institution. Throughout his time as the Deputy Governor, he demonstrated intensive data and proficiency in central banking, which spanned throughout a number of vital domains together with administration, banking and non-banking regulation, governance, danger administration, and human useful resource administration.

Mr. Vishwanathan additionally held different important roles in his profession, such as serving as the Director of Supervision on the Bank of Mauritius; Chief Vigilance Officer, and Head of Internal Audit with the Industrial Financial Corporation of India. His dedication to the monetary trade was additional demonstrated throughout his tenure as a member of board on the Securities and Exchange Board of India (SEBI), the place he served from July 2016 to March 2020.

Amitabh Chaudhry, MD & CEO, of Axis Bankcommented, “We are delighted and privileged to welcome Mr. Vishwanathan to the Axis household. His profound data, understanding of the monetary sector, and experience in navigating the regulatory panorama will increase strategic decision-making, whereas additional enhancing our dedication to uphold the best requirements of compliance and company governance. With his presence on the Board, we’re well-positioned to advance our agenda of sustainable progress and profitability.”

Speaking on his appointment,Mr. Nurani Subramanian Vishwanathanmentioned, “I’m delighted to affix the esteemed board of Axis Bank, an establishment par excellence. The Bank’s notable emphasis on company governance and sustainability has solidified its standing within the trade. I’m eager to contribute to the Bank’s agenda and collaborate intently with the distinguished Board of Directors. The collective efforts will reinforce Axis Bank’s prominence as a market chief, delivering worth to all stakeholders.”

In addition to his position at Axis Bank, Mr. Vishwanathan holds quite a few esteemed positions inside the monetary sector. He at present serves as the Non-Executive Chairman of the Governing Council on the Institute for Development and Research in Banking Technology, Hyderabad, as additionally of the Academic Council of the College of Supervisors, RBI, Mumbai. He is an Independent Expert Professional on the Investment Approval Committee of the National Stock Exchange in Mumbai and holds the place of Non-Executive Chairman of the Board of Directors at Acuite Ratings and Research Ltd, primarily based in Mumbai. Additionally, Mr. Vishwanathan serves in advisory capacities at Ernst and Young LLP in India and Razorpay in Bangalore. He can be a Senior Fellow within the Centre for Public Policy on the Indian Institute of Management, Bangalore.

His tutorial achievements embrace a Master’s Degree in Economics and a Bachelor’s Degree in Arts from Bangalore University. He has accomplished a sophisticated management program at Judge Business School, Cambridge University, UK.