In an internal meeting with select business head of the bank, Rajiv Anand is said to have asked business heads to draw up a plan within the next 45 days to tighten compliance, fill the gaps in processes and strengthening the business.
The lender has faced a series of exits at senior level since April this year, including CEO Sumant Kathpalia, after discrepancies in derivatives accounting and MFI books were reported.
The bank's shares have reacted positively, rising over 5 percent on the announcement, as several analysts believe the move could pave way for a turnaround at the bank, after a prolonged turmoil over accounting lapses.
Rajiv Anand's three-year appointment will run until August 24, 2028, pending shareholder approval at the bank's upcoming general meeting.
Anand joined the bank in May 2013 from its asset management arm Axis Asset Management Co. Ltd. where he was the MD & CEO.
Watch the interview of Rajiv Anand, Executive Director Retail Banking, Axis Bank with Surabhi Upadhyay on CNBC-TV18, in which he spoke on unified payment interface (UPI) for digital payments.
In an interview to CNBC-TV18 Sivarama Krishnan, Cyber Security Leader at PwC India, Rajiv Anand, Group Executive at Axis Bank and Rajnish Kumar, MD at State Bank of India to CNBC-TV18, decode the debit card data breach, its possible causes and impact on 32 lakh debit cards that were compromised.
In the next 2-3 days banks will be uploading the UPI-enabled apps on Google Play Store, said AP Hota, MD & CEO, NPCI.
First of its kind loan ...
"The Bank continues to expand its partner network across the GCC region with specific focus on getting into more arrangements with Correspondent Banks while continuing to actively manage our large existing exchange house relationships," said Rajiv Anand, group executive & head, retail banking at Axis Bank.
Axis Bank, India’s third largest private sector bank, as a part of its #RootForPlanet initiative, has been presented the ...
Axis Bank launched a service wherein customers using the expensive i-Phones can authenticate transactions using their fingerprints through a service called 'Touch ID'.
Rajiv Anand, Group Executive Head of Retail Banking at Axis Bank helps us understand how consumers can avoid bad experiences in savings in the form of mis-sold products.
The insurance industry was anyways not too hopeful of large private & public sector banks entering the insurance broking segment, now, it seems most banks are not keen.
Rajiv Anand, MD & CEO, Axis AMC feels inflation indexed bond is a good idea to attract retail investors.
On CNBC-TV18's special show 'The Informed Investor', Rajiv Anand, managing director and chief executive officer, Axis Asset Management, investment analyst Dipan Mehta, SP Tulsian of sptulsian.com and independent analyst Ambareesh Baliga give their outlook for 2013.
Global uncertainty and market volatility have not served equity funds well, but mutual fund houses are not complaining. After all, debt funds have become a shining star. CNBC-TV18's Mitra Joshi and Archana Shukla report.
The Indian securitisation market is not seeing any takers especially after pass through certificates came under the tax department's scanner earlier this year. The task of reviving this market now falls on the finance ministry, reports CNBC-TV18's Mitra Joshi and Ashmit Kumar.
Rajiv Anand, CEO, Axis Mutual Fund says the market is worried about further slippages in the GDP.
The Indian market has been weighed heavily by global and domestic uncertainties. Rajiv Anand of Axis AMC says, it certainly makes to start buying into this market at this point in time. According to him, the portfolio should be stewed towards consumption, banking and finance and to a certain degree to IT.
While investors are losing confidence on the Indian market, Rajiv Anand, managing director and chief executive officer of Axis Asset Management Company says, there is deep value in this market at this point in time. “If you are a long-term investor, these are opportunities for you to buy high quality stocks into your portfolio,†he adds.
Disappointing most people, November inflation stuck above 9%. Inflation eased to 9.11% (MoM) versus 9.73 % in October. Vivek Rajpal, Rates Strategist of Nomura India and Rajiv Anand of Axis AMC indicated that the Reserve Bank of India (RBI) and market has expected the inflation to be around 9%.
Experts believe that the current upmove in the market is not warranted as nothing has changed significantly.
Rajiv Anand of Axis Mutual Fund, in an exclusive interview to CNBC-TV18, said that growth will impacted due to hike in interest rates. “It will not be appropriate to be overly bearish on bonds right now as they may go up by another 5-10 basis points,” said Anand.