Shikha Sharma to quit as Axis Bank CEO after RBI churns row; 10 points to know
RBI had asked the bank`s board to reconsider Sharma`s three-year reappointment citing concerns over the bank`s asset quality under her reign among other reasons. Axis Bank reportedly gave no reason for Sharma cutting short her term and a bank spokesman declined to indicate whether the decision was connected with the recent media reports. Sharma herself made no comment in the regulatory filing.
Under Shikha Sharma, Axis Bank has witnessed its gross bad loans jump more than six times over the last three years to Rs 250 billion ($3.85 billion) as of end-2017. Image source: PTI