New Delhi: Television group Network18 on Wednesday presented its India Business Leader of the Year 2015 to Shikha Sharma, managing director and CEO of Axis Bank Ltd.

At an event in Delhi, Network18 felicitated the winners of the CNBC-TV18 India Business Leader Awards 2015, honouring top companies and recognizing their outstanding leaders.

The award ceremony was presided over by finance minister Arun Jaitley. In his speech, the minister said that if inflation comes down in the next three months, there is scope for a rate cut, adding “the decision rests with the Reserve Bank".

Jaitley also said it was important to strengthen banks before consolidation and that “in due course, we will see some banks getting merged."

Speaking on the occasion, Adil Zainulbhai, chairman, Network18 said remarkable business leaders “not only further the cause of their respective businesses but also inspire and propel the growth of India’s economy, which is critical to improve the lives of India’s 125 crore citizens."

“Taxes are bad but a necessary bad. The higher it is, the distortion is greater. We have to keep that in mind for GST (goods and services tax). The lower is better but it will depend on a lot of choices of policy implementation," Arvind Subramanian, chief economic adviser said.

CNBC with the Asia Business Leader Awards (ABLA) pioneered the business leadership awards, and CNBC-TV18 has carried on this tradition in India with the India Business Leader Awards (IBLA).

The awards follow a selection process that includes the editorial board drawing up a list of nominees, further leading to the final selection of winners by a jury comprising a select group of distinguished personalities.

This year’s jury comprised eminent members like Uday Kotak, Dilip Shanghvi, Shikha Sharma, Cyril Shroff, V.G. Siddhartha and Sanjay Nayar.

Winners of CNBC-TV18 India Business Leader Awards:

Young Turk Start-up of the Year: Delhivery

Young Turk of the Year: Practo

Outstanding Company of the Year: Idea Cellular

Most Promising Company of the Year: Pidilite

Brand of the Year: Amazon

Promising State of the Year: Telangana

Outstanding Contribution to the Cause of the Indian Economy: Jan Dhan Yojana-Aadhar-mobile

Outstanding Contribution to the Brand India: Make in India

Outstanding Woman Business Leader of the Year: Vinita Gupta

Outstanding Business Leader of the Year: Aditya Puri

Lifetime Achievement: Azim Premji

Hall of Fame: A.P.J. Abdul Kalam

CNBC Asia Awards for India

CNBC Asia’s India Innovator of the Year: Ajay Bijli, chairman and managing director, PVR Ltd

CNBC Asia’s India Talent Management Award: Vinod Kumar, managing director, Tata Communications

CNBC Asia’s Corporate Social Responsibility Award: Romesh Sobti, CEO and managing director, IndusInd Bank Ltd

CNBC Asia’s India Business Leader of the Year: Shikha Sharma, managing director and CEO, Axis Bank

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