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Axis Bank names new chairman

Axis Bank Ltd. appointed Rakesh Makhija as its new nonexecutive part-time chairman for a three-year term, effective July 18.

Makhija has been an independent director since October 2015. He will replace Sanjiv Misra, whose term as nonexecutive part-time chairman will expire on July 17.

The appointment is subject to approval from the Reserve Bank of India and the bank's shareholders.