Rajiv Anand has taken charge as CEO and MD of IndusInd Bank, the troubled private lender informed the exchanges on August 25.
Rajiv Anand’s appointment was announced on August 5, when the bank in its filing said that the bank’s board has approved his designation as ‘Additional Director’ in the MD & CEO category, for a period of three years.
His tenure will be until August 24, 2028. The Reserve Bank of India (RBI) has approved the appointment, as is required for top-level banking positions.
In its earlier filing, IndusInd said that Rajiv Anand brings extensive experience from his previous role as Deputy MD at Axis Bank, where over saw the Wholesale Banking Business.
Rajiv Anand joins IndusInd Bank at crucial juncture
Notably, Anand’s appointment comes at a crucial juncture for the bank, which has been without a full-time CEO since Sumant Kathpalia stepped down from the role after taking moral responsibility for the bank’s derivatives accounting controversy.
IndusInd Bank took a $230 million hit in FY25 due to years of misaccounting of internal derivative trades, which prompted resignations of then CEO Kathpalia and deputy Arun Khurana in April 2025.
(This is a breaking story, more updates coming…)
(With inputs from Agencies)
