Shikha Sharma's term to end on Dec 31: A look at her reign at Axis Bank

Moneycontrol News

Axis Bank chief Shikha Sharma’s term has been reduced to seven months from three years until December 31, 2018. Sharma has been at the bank's helm since June 2009. 

Since over a year, Axis Bank has been under the investors, shareholders and regulatory ire over its dwindling financial performance and recent concerns over governance issues.

Last month, it was the Reserve Bank’s turn when it reportedly asked Axis Bank's Board to reconsider her fourth-term reappointment as the bank's CEO and Managing Director.

Over three weeks back, Axis bank was reported to have seen two high-profile exits including Sidharth Rath, head of corporate and transaction banking, and V Srinivasan, deputy Managing Director.

In the past year and a half, the bank has been penalised by RBI for under-reporting of bad loans where the banking regulator found divergences in classification of bad loans worth Rs 9,480 crore in FY16 and Rs 5,633 crore in FY17.

To know what all led to this decision and who will succeed Sharma, listen in to the podcast…