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MUMBAI - Axis Bank (NS:AXBK) Limited, one of India's leading private sector banks, announced today the reappointment of Prof. S. Mahendra Dev as an Independent (LON:IOG) Director for a second term of four years, starting from June 14, 2025, to June 13, 2029. The decision, which is subject to approval by the bank's members, was made by the Board of Directors based on a recommendation from the Nomination and Remuneration Committee.
Prof. Dev, aged 67, currently serves as the Chairman of the Institute for Development Studies in Andhra Pradesh. His extensive career includes roles such as Director and Vice Chancellor of the Indira Gandhi Institute of Development Research, Chairman of the Commission for Agricultural Costs and Prices in the Ministry of Agriculture, and Acting Chairman of the National Statistical Commission of India. He has also held board positions at Kotak Mahindra Bank (NS:KTKM) and Kotak Mahindra Prime Ltd.
An expert in agriculture, rural economy, and development economics, Prof. Dev has a distinguished academic and professional background, with a Ph.D. from the Delhi School of Economics and postdoctoral research at Yale University. His contributions to the field are reflected in approximately 200 research publications and numerous books, including "Inclusive Growth in India: Agriculture, Poverty, and Human Development" published by Oxford University Press.
The bank has confirmed that Prof. Dev is not debarred from holding the office of director by any order from the Securities and Exchange Board of India (SEBI) or any other authority. Additionally, he has no familial relationships with other directors or key managerial personnel within the bank.
This reappointment is a part of the bank's ongoing commitment to maintain robust leadership and governance. The information regarding Prof. Dev's reappointment, as required by SEBI regulations, has been duly disclosed to relevant stock exchanges, including the London Stock Exchange (LON:LSEG) and Singapore Stock Exchange.
The announcement is based on a press release statement from Axis Bank Limited.
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