19 March 2024 – Ravi Narayanan, the Group Executive overseeing Retail Liabilities, Branch Banking, and Products at Axis Bank, has tendered his resignation, as disclosed by the company in an exchange filing on March 14. Narayanan’s resignation is effective from March 13, and he will be relieved from his duties on March 22.
Expressing gratitude for his tenure at Axis Bank, Narayanan stated in his resignation email, “My stint with Axis Bank has been an extremely rewarding one.” He highlighted his role in scaling up the Retail Liabilities franchise and expressed his intention to embark on an entrepreneurial journey, leveraging his extensive corporate experience spanning over 30 years.
Prior to his tenure at Axis Bank, Narayanan held positions at HDFC Bank, where he served as the Head of Branch Banking (West) and Retail Trade and Forex, among other roles. His responsibilities included overseeing Merchant Acquiring, Cash Management Services, and Current Account Product Business.
In response to Narayanan’s departure, Axis Bank has appointed Vijay Mulbagal as the new Group Executive and Head of Strategic Programs and Sustainability, effective from March 14, 2024. Mulbagal brings a wealth of experience from his previous role at HDFC Bank, where he spearheaded initiatives in Large Corporates – Supply Chain Finance, with a focus on digital transformation, product innovation, and fintech partnerships.
Axis Bank highlighted Mulbagal’s strategic acumen and emphasized his role in shaping key initiatives for the bank, aligning with long-term objectives and immediate execution priorities. The appointment underscores Axis Bank’s commitment to driving strategic growth and sustainability under Mulbagal’s leadership.
As per Axis Bank’s disclosure, Mulbagal is recognized as a senior management personnel in compliance with relevant laws governing such appointments.
