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The Specified Undertaking of the Unit Trust of India (SUUTI) has re-appointed Sanjiv Misra as the non-executive chairman of Axis Bank on a part-time basis for a period of three months, with effect from March 8. The term of the SUUTI nominee as the private sector bank’s non-executive chairman had expired on March 7. As on December-end 2015, SUUTI had 11.98 per cent stake in the bank. Axis Bank, in a notice to the BSE, said it will be obtaining the approval of its board for the re-appointment, subject to the approval of the RBI and the shareholders of the bank.
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