Axis Bank adds to its Board of Directors: Ketaki Bhagwati as Independent Director and Babu Rao as Non-Executive Director

– INDIA, Mumbai – Axis Bank’s Board of Directors has, at its meeting held today inter-alia, transacted the following items of business:

Appointment of Smt. Ketaki Bhagwati as an Additional Independent Director of the Bank

The Board of Directors of the Bank have appointed Smt. Ketaki Bhagwati as an Additional Independent Director of the Bank with effect from 19th January, 2016 to hold office as such upto the date of the ensuing Annual General Meeting of the Bank, in terms of Sections 149, 152 and 161 of the Companies Act, 2013 read with Rules made thereunder and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Smt. Ketaki Bhagwati is not liable to retire by rotation.

Appointment of Shri B. Babu Rao as an Additional Non-Executive Director of the Bank

The Board of Directors of the Bank have appointed Shri B. Babu Rao as an Additional Non-Executive Director (Nominee of SUUTI) of the Bank with effect from 19th January, 2016 to hold office as such upto the date of the ensuing Annual General Meeting of the Bank, in terms of Section 152 and 161 of the Companies Act, 2013 read with Rules made thereunder and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shri B. Babu Rao is liable to retire by rotation.

About Smt. Ketaki Bhagwati

Smt. Ketaki Bhagwati has a Bachelors of Arts from Wellesley College (USA) and a Master of Public Administration from Harvard University’s John F. Kennedy School of Government.

Smt. Bhagwati is a former Chief Investment Officer in the Financial Institutions Group at the International Finance Corporation (IFC), the private sector financing arm of the World Bank Group. She has over twenty four years of experience in private equity, M&A, debt & structured finance and distressed asset workouts across sectors in several regions including Asia, the Middle East & Africa.

Prior to IFC, Smt. Bhagwati worked at the Credit Rating Information Services of India (CRISIL) in Mumbai. She is currently a member of the Wellesley College Business Leadership Council and Golden Seeds, an early stage investment firm with a focus on women leaders.

About Shri B. Babu Rao

Shri B. Babu Rao holds Bachelor degree in Engineering and has received his MBA from Indian Institute of Management, Ahmedabad.

He has more than 26 years of experience in the area of Finance, Capital Markets and Fund Management in UTI Mutual Fund.

He is currently managing the activities of the Specified Undertaking of UTI (SUUTI) on deputation from UTI Asset Management Company Ltd.

During his career in UTI, he has handled various assignments and extensively worked in the areas of Project Finance, Investment Management, Offshore Funds, Venture Capital and Private Equity Funds, resolution of stressed assets and investor relations.

Prior to joining UTI in the year 1989, he worked with Larsen & Toubro Ltd. for six years.

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