Axis Bank announced that Rakesh Makhija, Independent Director and Non-Executive (Part-time) Chairman of the Bank has ceased to be the Chairman and a member of the Board of
Directors of the Bank, with effect from the close of business hours on Thursday, October 26, 2023, upon completion of his tenure, under the provisions of the Banking Regulation Act, 1949. The Board and entire management team acknowledges the invaluable contributions rendered by Rakesh Makhija during his tenure as an Independent Director and Non-Executive (Part-time) Chairman and place on record our deep appreciation for his leadership and guidance as a Chairman of the Board.