
Axis Bank appoints Neeraj Gambhir as Executive Director
Axis Bank shares are in focus after the private lender announced key leadership changes, including the appointment of Neeraj Gambhir as Whole-time Director and the resignation of senior executive Arjun Chowdhry.
In a regulatory filing on Friday, Axis Bank said its Board of Directors approved the appointment of Neeraj Gambhir as Executive Director (Whole-time Director) for a term of three years starting August 4, 2025, or from the date of RBI approval, whichever is later. His appointment is subject to shareholder and RBI approvals.
Gambhir, who currently serves as Group Executive – Treasury, Markets, and Wholesale Banking Products, brings over three decades of experience in the Indian financial sector. He has previously held leadership roles at Nomura India, Lehman Brothers, and ICICI Bank, contributing to the development of India's financial markets and serving on several SEBI advisory committees.
Meanwhile, Arjun Chowdhry, Group Executive – Affluent Banking, Cards, Payments and Retail Lending, has decided to pursue entrepreneurial interests and tendered his resignation. He will be relieved from his duties at the close of business on August 31, 2025. The Board recorded its appreciation for his contributions during his tenure.
These decisions were taken at the bank's board meeting held earlier on Friday.
The leadership reshuffle underscores Axis Bank's focus on strengthening its senior management team and aligning leadership with the bank's growth strategy in an evolving financial landscape.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
40 minutes ago
- Bloomberg
Textile, Farm Exports Hopes Rise on UK-India Trade Deal
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Alex Gabriel Simon, an equities reporter in Mumbai. Looks like Indian stocks are set for a rough morning, considering the weakness in Nifty futures and other Asian markets. It's a relief that the Nifty gauge held onto its 50-day moving average yesterday - a break below that would've been worrying. Today, all eyes are on the financial services sector as big players like Bajaj Finserv, Bank of Baroda, SBI Cards, and Shriram Finance announce their quarterly results. Meanwhile, Sun Pharma might take a hit after paying up $200 million to settle a price-fixing case in the US.
Yahoo
an hour ago
- Yahoo
Mortgage rates dip to lowest level in three weeks
Mortgage rates retreated this week, with the 30-year fixed rate averaging 6.76 percent, compared to 6.81 percent the previous week, according to Bankrate's latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.76% 6.79% 6.90% 6.79% 6.20% 15-year 5.92% 5.95% 6.24% 6.01% 5.40% 30-year jumbo 6.76% 6.76% 6.97% 6.83% 6.36% The 30-year fixed mortgages in this week's survey had an average total of 0.30 discount and origination points. Discount points are a way to lower your mortgage rate, while origination points are fees lenders charge to create, review and process your loan. Learn more: Will mortgage rates go down this upcoming week? Shop smarter for mortgage rates Bankrate connects you to the latest lender offers, tailored to you. Find your low rate today. Explore mortgage rates Monthly mortgage payment at today's rates The national median family income for 2025 is $104,200, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in June 2025 was $435,300, according to the National Association of Realtors. Based on a 20 percent down payment and a 6.76 percent mortgage rate, the monthly payment of $2,261 amounts to 26 percent of the typical family's monthly income. 'Affordability is still a challenge,' says Lisa Sturtevant, chief economist at Bright MLS, a listing service in the Mid-Atlantic region. 'Some buyers are waiting both for rates and prices to come down before they get into the market.' What will happen to mortgage rates in 2025? Last month, the Federal Reserve decided to leave the federal funds rate untouched. Mortgage rates didn't respond to the Fed's three consecutive cuts last year — a reminder that fixed mortgage rates are not set directly by the Fed but by investor appetite, particularly for 10-year Treasury bonds. When there's uncertainty in the market, investors buy Treasury bonds, which in turn drives yields — and, often, mortgage rates — downward. Shop Top Mortgage Rates A quicker path to financial freedom Personalized rates in minutes Your Path to Homeownership President Donald Trump's tariff policies were blamed for an increase in inflation, which moved up to 2.7 percent in June from 2.4 percent in May. The Fed's inflation target is 2 percent. In addition, as of Wednesday afternoon, 10-year Treasury yields were just below 4.4 percent. Learn more: How are mortgage rates set? Methodology The national survey of large lenders is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison. Our rates differ from other national surveys, in particular Freddie Mac's weekly published rates. Each week Freddie Mac surveys lenders on the rates and points based on first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. 'Lenders surveyed each week are a mix of lender types — thrifts, credit unions, commercial banks and mortgage lending companies — is roughly proportional to the level of mortgage business that each type commands nationwide,' according to Freddie Mac.
Yahoo
an hour ago
- Yahoo
Dip in Asian currencies, outflows likely to keep up pressure on rupee
By Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee is expected to open weaker on Friday and trade with a modest depreciation bias amid a dip in its regional peers and lingering pressure from portfolio outflows as investors gird for an upcoming news-heavy week. The 1-month non-deliverable forward indicated the rupee will open around 86.48-86.50 versus the U.S. dollar, compared with 86.4050 in the previous session. Asian currencies were down between 0.1% and 0.3%, while the dollar index ticked up to 97.5, as investors braced for U.S. President Donald Trump's tariff deadline, a Federal Reserve policy decision, and key U.S. economic data releases, all due next week. The rupee is expected to trade with a slight downward bias and could test support near 86.70-86.80 in the near term, a trader at a state-run bank said. While there is "nascent" interbank interest in taking long bets on the rupee, that is largely on the back of the market expecting some positive announcement on U.S.-India trade negotiations, the trader added. While optimism about U.S. trade deals with China and the European Union has picked up after an agreement with Japan, the prospects of a deal for India ahead of the August 1 deadline have dimmed. Britain and India signed a free trade agreement on Thursday, with India's trade minister saying that he remains confident of concluding a trade deal with the U.S. while downplaying the significance of the looming deadline. "Beyond tariffs and the rush to close the art of the deal, one continuing theme that we see in Asia and many countries outside the U.S. is the acceleration in moves to diversify away from or at least hedge with the U.S.," MUFG said in a note. In addition to the wait for a trade agreement with the U.S., foreign portfolio outflows have been a pain point for the rupee with overseas investors pulling out about $500 million from local stocks over July so far. KEY INDICATORS: ** One-month non-deliverable rupee forward at 86.60; onshore one-month forward premium at 12.50 paisa ** Dollar index up 0.1% at 97.58 ** Brent crude futures up 0.5% at $69.5 per barrel ** Ten-year U.S. note yield at 4.4% ** As per NSDL data, foreign investors sold a net $382mln worth of Indian shares on July 23 ** NSDL data shows foreign investors sold a net $41.7mln worth of Indian bonds on July 23