Pralay Mondal quits Axis Bank to head a smaller private bank

Pralay Mondal, Executive Director and Head of Retail Banking at Axis Bank has resigned from his position, a little over a year after he joined the bank.

Axis Bank said in a statement, “Pralay Mondal, Executive Director (Retail Banking) at Axis Bank, will be stepping down in the month of September 2020 to pursue other opportunities.”

A senior bank official who spoke to CNBC-TV18 on the condition of anonymity said that Mondal resigned from the bank to head another smaller private sector bank.

Two separate people in the know said that Mondal may join as head of Kerala-based Catholic Syrian Bank, but CNBC-TV18 could not corroborate this with Pralay Mondal.

Fairfax backed Catholic Syrian Bank re-appointed Rajendran Chinna Veerappan as MD & CEO of the bank in December 2019 for a period of three years, which ends on December 8, 2022.

Pralay Mondal said, “It’s an unanticipated but unavoidable development owing to some personal compulsions. It has been an absolute honour to lead the Retail Banking team at Axis and together we have achieved a lot. Axis is a strong franchise and I will proudly admire as the business continues to grow in the years to come. I got the opportunity to work with a great leadership team and I wish the Bank all the very best in all its endeavours. There is a lesson to be learnt from this for all of us. We don’t need to hunt for talent outside, there are a lot of people within the organisation who can step up.”


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