Axis Bank Reappoints Subrat Mohanty as Executive Director; Announces Change in Chief Credit Officer

Axis Bank Limited on Tuesday announced the re-appointment of Subrat Mohanty as Whole-Time Director (Executive Director) for a further term of three years and disclosed changes in its senior management, following a meeting of its Board of Directors.

In a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the bank said its Board has approved the re-appointment of Subrat Mohanty for the period August 17, 2026 to August 16, 2029, subject to approval from the Reserve Bank of India (RBI) and the bank’s shareholders.

Mohanty, who joined Axis Bank in October 2020, currently oversees key functions including Retail and Wholesale Banking Operations, IT and Digital Banking, Business Intelligence, Group Strategy, Subsidiary Governance, Customer Experience, Vigilance, and Internal Audit. He will continue to be liable to retire by rotation. The bank clarified that Mohanty is not related to any director or key managerial personnel and has not been debarred by SEBI or any statutory authority.

Separately, Axis Bank also announced a change in its Chief Credit Officer (CCO) position. Prashant Joshi, Chief Credit Officer, will retire with effect from the close of business hours on June 30, 2026. Following his retirement, Sudipto Nag will assume charge as Chief Credit Officer with effect from July 1, 2026.

Sudipto Nag, currently President & Head – Retail Portfolio Management Group at Axis Bank, has over 24 years of experience in the financial services sector. His expertise spans credit policy design, portfolio risk management, governance, and enterprise-wide credit risk management. He has held leadership roles across business, credit, and collections functions and has steered portfolios through multiple credit cycles. Nag holds an MBA from Utkal University.

Consequent to the above changes, Sudipto Nag will be classified as Senior Management Personnel, while Prashant Joshi will cease to be part of senior management from their respective effective dates.

The Board meeting commenced at 9:30 a.m. IST, and the approvals were concluded at 3:45 p.m. IST, the bank said.