Axis Bank Limited's Board of Directors has approved significant leadership appointments, including the re-appointment of a key executive director and changes in senior management positions. The decisions were announced following a board meeting held on January 27, 2026, demonstrating the bank's commitment to leadership continuity and strategic management transitions.

Executive Director Re-appointment

The board has approved the re-appointment of Subrat Mohanty as Whole-Time Director, designated as Executive Director, for an additional three-year term. The appointment details are structured as follows:

Subrat Mohanty, aged 49 years, joined Axis Bank in October 2020 and currently leads multiple critical functions including Retail & Wholesale Banking Operations, IT & Digital Banking, Business Intelligence, Group Strategy & Subsidiary Governance, Customer Experience, Vigilance and Internal Audit. The bank confirmed that Mohanty is not related to any directors or key managerial personnel and has not been debarred by SEBI or other regulatory authorities.

Professional Background and Experience

Subrat Mohanty brings over 24 years of diverse industry experience to his role. His career progression includes significant leadership positions across multiple sectors:

• Previous Role: Group President at Manipal Education & Medical Group, overseeing business performance and strategy across Education, Healthcare, and Insurance divisions
• Insurance Sector: Chief Operating Officer at HDFC Life Insurance Company Limited, managing Strategy, Operations, Technology, Digital and Health Insurance functions
• Technology Consulting: Multiple leadership roles at Infosys covering Operations, Solutions, Strategy, and technology-led Transformation Programs
• Career Start: Began professional journey with Andersen Consulting (now Accenture)

His educational qualifications include a Bachelor's degree in Mechanical Engineering from NIT, Rourkela and an MBA from Indian Institute of Management, Calcutta.

Senior Management Transition

The bank announced a planned leadership transition in the Chief Credit Officer position, ensuring smooth continuity in credit operations:

New Chief Credit Officer Profile

Sudipto Nag brings extensive expertise in credit policy design, portfolio risk management, debt servicing, governance, and enterprise-wide credit risk management. In his current role as President & Head – Retail Portfolio Management Group, he oversees credit portfolio strategy and performance across retail, SME, and rural lending segments.

Key aspects of his professional background include:

• Experience: 24 years in financial services
• Specialization: Credit policy frameworks, portfolio risk management through multiple credit cycles
• Innovation Focus: Leveraging AI to strengthen risk assessment, debt allocation design and debt service management
• Asset Quality: Strong focus on NPA containment and asset quality maintenance
• Education: MBA from Utkal University

Board Meeting Details

The board meeting commenced at 09:30 am (IST) on January 27, 2026, with the leadership appointments approved at 3:45 p.m. The decisions were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full regulatory compliance and transparency in corporate governance matters.

Axis Bank has outlined its expectations for deposit growth alignment with credit expansion over the medium term, providing insights into the bank's strategic planning amid evolving market conditions.

Growth Alignment Forecast

The bank anticipates that deposit growth will align with credit growth within a timeframe of 15 to 18 months. This projection indicates the institution's confidence in achieving balanced growth across its core banking operations.

RBI Liquidity Support Dependency

The realization of this growth alignment is contingent on continued liquidity support from the Reserve Bank of India. The bank's forecast acknowledges the critical role of central bank policy measures in facilitating optimal deposit and credit growth dynamics.

Strategic Implications

This guidance reflects Axis Bank's approach to managing the balance between deposit mobilization and lending activities. The bank's projection suggests a measured approach to growth that takes into account regulatory support and market liquidity conditions.

The forecast provides stakeholders with visibility into the bank's medium-term expectations for core banking metrics, emphasizing the importance of central bank policy continuity in achieving balanced growth objectives.