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As the competition heats up between banks and the new-age fintech firms, large banks with healthy operational perfomances and strong balance sheet will continue to grow faster than the industry, Axis Bank MD&CEO Amitabh Chaudhry said in the annual report 2021-22 released on Wednesday. With a number of transformation driven initiatives like One Axis and stepping up of investments on technology among others, he said these are the steps for building a 'Bank of Bharat'. "....raising the bar on customer obsession with our project 'Sparsh', and the contracted acquisition of Citi's India consumer business continue to push our agenda in the right direction," Chaudhry said in his statement to the shareholders of the bank. He said there has been intense competition between the incumbent banks and new age fin-tech companies to win the hearts and minds of customers. "In such an environment, the large banks with healthy operational performance, strong balance sheet and capital position, ...
Axis Bank today said it has shortlisted three candidates to succeed the MD & CEO Shikha Sharma, whose term is due to expire in December this year. The bank, however, did not disclose names of the candidates shortlisted for the post. In terms of extant RBI norms and the succession planning process of the bank, the Board of Directors of the bank at its meeting held on July 9, 2018, has recommended the names of three candidates, in order of preference, for the approval of the RBI, Axis Bank said in a regulatory filing. "The candidate as approved by the RBI, will succeed Shikha Sharma, whose term as the Managing Director & CEO of the Bank, is due to expire on 31st December 2018," the bank said. Axis Bank will be submitting its application in respect of the recommendations relating to the said appointment, for the approval of the RBI, it added further. Earlier in April, the bank CEO had wanted her new term to be reduced to seven months from three-year tenure, which was accepted by .