Axis Bank Limited has informed the Exchange about Resignation of Independent director.
AXISBANK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Axis Bank has informed the stock exchanges that Prof. S. Mahendra Dev, an Independent Director on the Bank's board, has resigned with effect from the close of business hours on June 5, 2025. The reason for his resignation is his appointment as Chairman of the Economic Advisory Council to the Prime Minister of India, a full-time position. Prof. Dev confirmed that there are no other material reasons for his resignation and that he does not hold directorship in any other listed entity. The Bank has recorded its appreciation for his guidance and contributions during his tenure on the board.
This is a routine, voluntary exit triggered by a prestigious government appointment, not a governance concern. Axis Bank's board will need to fill this independent director vacancy in due course, but the resignation is unlikely to have any meaningful impact on the stock price or business operations.