Axis Bank Limited has initiated a postal ballot process to seek member approval for four significant board resolutions. These include the re-appointment of two existing directors and the confirmation of two new appointments, including a nominee from Life Insurance Corporation of India (LIC) and an independent director from the private sector.

The remote e-voting period commenced on October 7, 2026, at 9:00 am and will conclude on November 5, 2026, at 5:00 pm. The cut-off date for determining voting rights was September 25, 2026. Results are expected to be declared on or before November 9, 2026.

Key directorial changes proposed

The bank is seeking approval for the following items:

1. Re-appointment of CH SS Mallikarjunarao: As an Independent Director for a second term of four years, effective February 1, 2027, to January 31, 2031. This requires a special resolution.
2. Re-appointment of Munish Sharda: As Whole-Time Director (Executive Director) for three years, effective February 27, 2027, to February 26, 2030. This requires an ordinary resolution.
3. Appointment of K. S. Giridhar: As Non-Executive (Nominee) Director representing LIC, effective August 14, 2026. This replaces Mini Ipe. This requires an ordinary resolution.
4. Appointment of Arvind Subramanian: As Independent Director for four years, effective September 23, 2026, to September 22, 2030. This requires a special resolution.

Remuneration details for executive director

The proposal for Munish Sharda’s re-appointment includes detailed remuneration terms. His fixed annual remuneration is set at ₹5.30 crore, subject to variable pay limits prescribed by the Reserve Bank of India (RBI).

Note: Variable pay is capped at 300% of fixed pay per RBI guidelines.

Profile highlights of new appointees

K. S. Giridhar brings over 35 years of experience from LIC, where he served as Executive Director (P & GS). He specializes in investments, technology, and governance. He will serve as LIC’s nominee on the Axis Bank board.

Arvind Subramanian offers expertise in strategy consulting and enterprise growth. He currently serves as Executive Vice President and Managing Director at Iron Mountain India Pvt. Ltd. Previously, he held leadership roles at Boston Consulting Group and Mahindra Lifespace Developers Limited.

Voting process and eligibility

Voting rights are proportional to shareholding as of the cut-off date. Individual demat account holders can vote via their depository accounts or through NSDL’s e-voting portal. Physical shareholders must register their email addresses to receive login credentials. Proxy voting is not permitted for this postal ballot.

Axis Bank updated the contact information for its key management personnel authorized to disclose material events to stock exchanges. This administrative update ensures compliance with regulatory reporting standards.

Regulatory compliance update

The bank filed a disclosure under Regulation 30(5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing specifies that the listed officers are severally authorized to disclose details of material events or information to the National Stock Exchange of India Limited and BSE Limited. The update was signed by Sandeep Poddar, Company Secretary, on September 28, 2026.

Authorized personnel and contact details

The disclosure lists three senior executives responsible for material event disclosures. Their designations and contact information are detailed below:

All officers are based at Axis House, P B Marg, Worli, Mumbai. The company requested the stock exchanges to take note of these details on record. Copies of the communication were also sent to the London Stock Exchange and Singapore Stock Exchange.