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Axis Bank shortlists 3 candidates to succeed MD and CEO Shikha Sharma

Axis Bank's head hunting for CEO began after it cut short Shikha Sharma's reappointment period till the end of December 2018. In July 2017, the Axis Bank Board had reappointed Sharma as CEO for three years starting June 1, 2018. However, the RBI wrote back to the board asking it to reconsider the decision.

Earlier in April, the bank CEO had wanted her new term to be reduced to seven months from three-year tenure, which was accepted by the bank board subsequently.
The Reserve Bank of India has issued licence to Bank of China to launch operations in India, official sources said today.
The IRDAI entered the picture because under current norms, an insurance company cannot hold more than 15 per cent stake in a company.