Axis Bank Ltd., the top arranger of debt markets, has lost three senior executives, adding to a big reshuffle taking place at private-sector lenders.
Anil Agarwal, president and group head of institutional clients coverage, Vikas Shinde, who once headed the debt capital market team, and Jimmy Tavadia, group head of trading, have resigned from Axis Bank, according to people familiar with the matter. The departures come as the lender reorganizes key positions in its corporate banking and other teams. The people declined to be named discussing private information.
HDFC Bank Ltd., the top private-sector lender, recently named Puneet Sharma from Axis Bank as its chief financial officer. Separately, Bandhan Bank Ltd.’s Chief Financial Officer Rajeev Mantri stepped down.
Axis Bank, the third-largest private-sector lender, and the departing executives, did not immediately reply to an email seeking comment. The Mumbai-based bank has been India’s top rupee bond arranger for nearly two decades, according to Bloomberg’s league table, and also ranks first in the rupee loans league table so far this year.
Agarwal spent more than two decades at the lender, overseeing strategic relationships with government entities, public sector undertakings and financial institutions, according to his LinkedIn profile. Shinde, also at the bank for about two decades, largely worked in the debt capital market team, while Tavadia joined the lender in 2019 and specialized in rates and forex trading, his LinkedIn profile showed.
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Published on July 8, 2026
