News ArticleAxis Bank Gains RBI Nod to Reappoint Munish Sharda as Executive Director Until 2030
The bank's board approved the three-year extension effective February 27, 2027, pending shareholder approval, confirmed by RBI on November 4, 2026
Axis Bank has obtained the Reserve Bank of India's approval to reappoint Munish Sharda as Whole-Time Director, designated Executive Director, for a three-year term starting February 27, 2027, through February 26, 2030, subject to shareholder consent.
Axis Bank Limited
Change in Management
Axis Bank announced that the Reserve Bank of India has approved the reappointment of Munish Sharda as Whole-Time Director, designated Executive Director, for a period of three years commencing February 27, 2027, extending through February 26, 2030.
The Board of Directors had earlier approved the extension of Munish Sharda's tenure for three years at its meeting referenced on June 29, 2026.
This reappointment is subject to the shareholders' approval of the bank as well as the prior consent from the RBI, which has now been granted as per the RBI letter dated November 4, 2026.
The approval enables Axis Bank to maintain continuity in its executive leadership through this three-year term.
Highlights
- Reappointment of Munish Sharda as Executive Director effective from February 27, 2027, to February 26, 2030.
- RBI approval received on November 4, 2026, under letter no. CO.HGG.DOR.No.S6304/08.86.001/2026-27.
- Board approved the reappointment in June 2026, subject to RBI and shareholder approvals.
- Reappointment pending shareholder approval, ensuring regulatory compliance.
Key Data Snapshot
What happened
- Axis Bank received Reserve Bank of India approval for the reappointment of Munish Sharda as Whole-Time Director, designated Executive Director.
- The reappointment covers a three-year tenure from February 27, 2027, to February 26, 2030.
- The bank’s Board had approved the reappointment in June 2026, subject to regulatory and shareholder approval.
Key details
- RBI communicated approval through letter no. CO.HGG.DOR.No.S6304/08.86.001/2026-27 dated November 4, 2026.
- Reappointment is contingent on shareholders’ approval as well as RBI consent, fulfilling mandatory regulatory requirements.
- This reappointment ensures continuity in Axis Bank’s key executive leadership position for an additional three years.
Regulatory and governance context
- Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The approval by RBI is a necessary regulatory step for executive director appointments in scheduled commercial banks in India.
- Shareholder approval is required following standard corporate governance practices.
Highlights
- Reappointment of Munish Sharda as Executive Director effective from February 27, 2027, to February 26, 2030.
- RBI approval received on November 4, 2026, under letter no. CO.HGG.DOR.No.S6304/08.86.001/2026-27.
- Board approved the reappointment in June 2026, subject to RBI and shareholder approvals.
- Reappointment pending shareholder approval, ensuring regulatory compliance.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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