Axis Bank has announced the designation of two senior officials as Senior Management Personnel, strengthening its leadership structure across key operational areas. The Board of Directors formalized these appointments during its meeting held on April 25, 2026.

Leadership Appointments

The bank has designated two experienced professionals to senior management roles:

Professional Profiles

Sanjeev Moghe - Head Branch Banking South

Sanjeev Moghe serves as President and Head of Branch Banking (South) at Axis Bank. His responsibilities extend beyond regional operations to include leadership of the Branch Control Unit (BCU), where he heads the controls charter for the entire Axis branch network nationally. His expertise spans multiple areas:

• Deep experience across cards, payments, and retail financial services
• Key role in scaling large consumer businesses with focus on profitable growth
• Emphasis on customer experience and risk discipline
• Prior senior leadership roles at Citigroup and Bajaj Finance before joining Axis Bank in 2018

Moghe holds strong academic credentials as an alumnus of IIM Calcutta and possesses a Bachelor's degree in Metallurgical Engineering from IIT Bombay.

Avinash Raghavendra - Head IT and Retail Operations

Avinash Raghavendra brings nearly three decades of experience at Axis Bank to his role as President and Head of Information Technology and Retail Operations. His extensive tenure has involved leading enterprise-wide technology and operations portfolios with focus on:

• Modernizing core banking platforms
• Strengthening digital and payments infrastructure
• Building operational resilience at scale

Raghavendra's educational background includes a Master's degree in Information Management and a Master's degree in Commerce from the University of Mumbai. He is also a Certified Information Systems Auditor (CISA).

Regulatory Compliance

The appointments were disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 9:00 AM IST and concluded at 4:30 PM IST on April 25, 2026. The bank has provided detailed information pursuant to SEBI Master Circular requirements, ensuring full regulatory compliance.

Strategic Significance

These designations reflect Axis Bank's commitment to strengthening its senior management structure across critical operational areas. The appointments span both traditional banking operations through branch banking leadership and modern digital infrastructure through IT and retail operations management, positioning the bank for continued growth and operational excellence.

Axis Bank has informed stock exchanges about receiving penalty orders from the Employees Provident Fund Organization (EPFO) totaling Rs 1.38 crore for delayed remittance of provident fund and allied dues. The bank disclosed this regulatory action through a filing dated April 17, 2026, under Regulation 30 of SEBI listing regulations.

Penalty Details and Financial Impact

The EPFO has imposed penalties comprising two components for violations during the period from April 1, 2022, to June 13, 2024. The orders were issued under sections 7Q and 14B of the Employees Provident Fund Act & Miscellaneous Provisions Act 1952.

Regulatory Orders and Timeline

The bank received two separate orders from the EPFO's Mumbai Regional Office in Dadar, both dated March 27, 2026. The orders specifically address the recovery of interest under section 7Q and damages under section 14B for delayed remittance of provident fund contributions.

Bank's Response and Business Impact

Axis Bank has reviewed the matter and submitted the requisite information to the authorities at the earliest opportunity. The bank has assessed the financial implications of these orders and provided guidance on their expected impact.

The bank stated that it anticipates no significant effect on its financial, operational, or other business activities as a result of these EPFO orders. This assessment suggests that the penalty amount, while substantial in absolute terms, is manageable within the bank's operational framework.

Compliance and Disclosure

The disclosure was made through proper regulatory channels, with the bank informing both the National Stock Exchange of India Limited and BSE Limited about the penalty. The bank has also copied the London Stock Exchange and Singapore Stock Exchange on this communication, maintaining transparency across all listing jurisdictions where its securities are traded.