S. Mahendra Dev Appointed Chairman Of PM's Economic Advisory Council

Axis Bank’s former independent director, S. Mahendra Dev, has been appointed as chairman of the Economic Advisory Council to the Prime Minister, filling a vacancy left after the passing of Bibek Debroy in November 2024.

Axis Bank confirmed Dev’s appointment in a stock exchange filing on Thursday and announced his resignation from its board. The bank acknowledged his significant contributions, saying it had "deep appreciation for the guidance and invaluable contributions rendered by Prof. S. Mahendra Dev."

An economist with a Ph.D. from the Delhi School of Economics and post-doctoral research experience at Yale University, Dev has held leadership roles at the Indira Gandhi Institute of Development Research and served as an independent director at Kotak Mahindra Bank. He has also contributed to panels at the World Bank, OECD, and UNDP.