RBI clears three-year extension for Axis Bank chairman N S Vishwanathan

The Reserve Bank of India (RBI) has approved the reappointment of N S Vishwanathan as the non-executive (part-time) chairman of Axis Bank for a further three-year term from 27 October 2026 to 26 October 2029, subject to his reappointment as an independent director.

Axis Bank disclosed the approval in a regulatory filing on Tuesday, stating that shareholders will consider the proposal at the bank's 32nd Annual General Meeting (AGM) on 31 July.

The central bank said the extension of Vishwanathan's tenure will take effect only if shareholders approve his reappointment as an independent director. He has served as the bank's non-executive (part-time) chairman since 27 October 2023.

Four decades in central banking

Vishwanathan joined the Reserve Bank of India in 1981 as a direct recruit officer and retired as Deputy Governor in March 2020, concluding a career spanning nearly four decades.

During his tenure at the central bank, he oversaw banking, non-banking financial company (NBFC) and co-operative banking regulation, governance, internal controls, risk management, human resource management and enforcement. He also served as Director (Supervision) at the Bank of Mauritius, and held the roles of Chief Vigilance Officer and Head of Internal Audit at the Industrial Financial Corporation of India.

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Between July 2016 and March 2020, Vishwanathan was a member of the board of the Securities and Exchange Board of India (SEBI). He also represented the RBI on several domestic and international committees.

Vishwanathan is currently the non-executive chairman of the Governing Council of the Institute for Development and Research in Banking Technology. He also serves on the boards of SRO-FT Development Foundation and National E-Governance Services Limited, and is a Senior External Adviser to Ernst & Young LLP.

If shareholders approve his reappointment at the AGM, this will be Vishwanathan's second term as chairman of Axis Bank.