Axis board accepts Sharma's request for shorter term

Mumbai : Lending major Axis Bank on Monday said its board has accepted the request of the company's Managing Director and CEO Shikha Sharma to be re-appointed for a shorter duration of time, subject to regulatory approval.

According to a BSE filing, Sharma requested to be on a revised re-appointed period from June 1, 2018 up to December 31, 2018.

"The board has accepted her request, subject to the approval of the RBI (Reserve Bank of India)," the bank said in the BSE filing.

The board had earlier decided to re-appoint Sharma for a period of 3 years from June 1, 2018, subject to approvals.

Sharma has served as the bank's Managing Director and CEO for around 9 years. In this period, she has led the bank's next stage of growth.

However, lately the rise in the bank's NPA levels has become a major cause of concern.