Axis Bank and Bandhan Bank have announced the resignations of their respective Chief Financial Officers, marking a significant leadership turnover in India’s private banking sector.
The moves were disclosed on Monday, with both institutions confirming the departures in regulatory filings.
The resignations come at a time of heightened scrutiny and strategic realignment for Indian lenders.
Axis Bank is currently executing a plan to replace high-cost domestic deposits with foreign-currency funds raised from the Indian diaspora, a strategy aimed at optimizing its funding mix.
Meanwhile, HDFC Bank, a key peer in the sector, recently concluded an external legal review that found no evidence to support concerns raised by former chairman Atanu Chakraborty, signaling a stabilization in its own governance narrative.
The departure of CFOs at two prominent banks within the same week raises questions about internal strategy and potential talent migration.