The request of Axis Bank CEO and Managing Director Shikha Sharma to relieve her from the position on December 2018, 29 months ahead of the scheduled term, has been accepted by the bank’s board.

The board’s decision come amidst RBI raising questions over her re-appointment for the fourth term as MD and CEO of the third largest private sector lender in the wake of mounting non-performing assets (NPAs), media reports said.

Sharma, who would complete her third term on May 31, 2018, has been heading the bank since 2009, reported PTI.

The Axis Bank board accepted her request for a shorter seven-month term (from June 1 to December 31, 2018), subject to the approval of the Reserve Bank of India (RBI), the bank reportedly said in a regulatory filing.

The bank was quoted as saying on December 8 last year, the board had decided to reappoint Sharma as the Managing Director and CEO, for a period of three years with effect from June 1, 2018, subject to receipt of requisite approvals.

The re-appointment, however, was yet to get the approval of the Reserve Bank of India (RBI), the report said.