AXIS/CO/CS/315/2021-22

September 29, 2021

Dear Sir(s),

Sub: Early Retirement of Mr. Rajesh Dahiya as the Executive Director (Corporate Centre) & KMP of the Bank.

Ref:   Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations").

This is to inform you that Mr. Rajesh Dahiya, Executive Director (Corporate Centre) and KMP of the Bank, has sought early retirement from the services of the Bank, to pursue personal and professional interests outside his corporate career.

The Board of Directors (the Board) of the Bank at its meeting held today considering the aspirations of Mr. Rajesh Dahiya, accepted his decision to seek early retirement from the services of the Bank. The said retirement will be effective after expiry of three months viz. after the close of business hours on Friday, December 31, 2021.  

Mr. Dahiya had joined the Bank in June 2010, after a successful stint of 20 years across various group companies of the Tata Group. He joined as President - HR and assumed the role of Group Executive - Corporate Centre in July 2014 and thereafter assumed charge as the Executive Director - Corporate Centre in August 2016. He is an integral member of the transformation journey over the last 3 years, and his responsibilities in addition to Corporate Centre, included overseeing the functioning of Axis Bank Foundation, the CSR arm of the Bank.  

He is also a Director on the Boards of Axis Trustee Services Limited and Max Life Insurance Company Limited. Mr. Dahiya is also involved in several key projects being undertaken by the Bank viz. corporate governance, Sustainability & ESG, Customer Excellence, amongst others. The Bank has initiated the succession plan internally and continuity of initiatives has been ensured.

Mr. Dahiya stays committed to the growth ambitions of the Bank and he has consented to be closely associated with the Bank through specific projects / assignments that will help shape distinctiveness for the Bank. He will continue as a key board member for associates & subsidiaries (Axis Bank Foundation, Axis Trustee and Max Life).

The Board places on record, their deep appreciation for his valuable contributions and his leadership during his association with the Bank.  The Board wishes him the very best as he begins a new chapter outside his distinguished corporate career.

You are requested to take note of above and arrange to bring this to the notice of all concerned.

Thanking you.

Yours Sincerely,

For Axis Bank Limited

Girish V. Koliyote

Company Secretary