The Reserve Bank of India (RBI) has given its nod to re-designation Rajiv Anand as the deputy managing director of Axis Bank.

Axis Bank board had earlier in October approved to re-designate Rajiv Anand as the deputy MD of the bank, subject to approval of the RBI and the shareholders of the bank.

"The Reserve Bank of India vide its letter dated December 27, 2021, has approved the re-designation of Rajiv Anand as the Deputy Managing Director of the bank from the date of its communication and co-terminus with his approved term of appointment till August 3, 2022 (both days inclusive)," Axis Bank said in a regulatory filing.

Anand has been functioning as the executive director (Wholesale Banking) of the bank since December 2018.

Anand, 55, had joined Axis Bank in May 2013 from its asset management arm, Axis Asset Management Co Ltd, where he was the MD and CEO.

Anand was appointed as a director of the bank in May 2016 and thereafter as the executive director (Retail Banking) in August 2016.