IndusInd Bank appoints Rajiv Anand as MD and CEO for 3 years

IndusInd Bank on Monday (August 4, 2025) introduced the appointment of Rajiv Anand, former Deputy Managing Director of Axis Bank, as its new MD and CEO.

The board, foundation approval of the Reserve Bank of India (RBI), have at its assembly held on August 4 authorized the appointment of Rajiv Anand as ‘Additional Director’ within the class of Managing Director and CEO and Key Managerial Personnel of the financial institution for 3 years, IndusInd Bank mentioned in a late night regulatory submitting.

The appointment is efficient from August 25, 2025, as much as August 24, 2028, topic to the approval of the shareholders of the financial institution, it mentioned.

He would assume cost at a time when the financial institution is reeling below a slew of points stemming from alleged irregularities of the highest administration in recognising dangerous loans and buying and selling reverses.

Mr. Anand retired as deputy managing director of Axis Bank on August 3 upon completion of his third time period as a director on the financial institution’s board.

He joined Axis Asset Management Co. Ltd. in 2009 as its founding MD and CEO. In his subsequent task, he was appointed president of retail banking at Axis Bank. Subsequently, he was inducted into the board of the Axis Bank and took over as the top of wholesale banking.

Last month, the RBI prolonged the tenure of the committee of executives of the financial institution for one month as IndusInd Bank anticipated the regulator’s clearance for its new MD and CEO by that point.

The scenario arose following the resignation of MD and CEO Sumant Kathpalia within the wake of accounting lapses costing ₹1,960 crore to the lender within the 2024-25 fiscal yr.

The personal sector lender in March reported the accounting lapses within the by-product portfolio, estimated to have an antagonistic influence of roughly 2.35 per cent of the financial institution’s internet price as of December 2024.

The unique tenure of the Committee of Executives constituted on April 29 was until July 28, 2025.

 IndusInd Bank positive factors after naming Rajiv Anand as CEO

 IndusInd Bank climbed 2.3% on Tuesday (August 5, 2025), a day after the lender named business veteran Rajiv Anand as its chief government for a three-year time period.

The inventory was the highest gainer on the Nifty Bank and Nifty Private Bank indexes, which have been buying and selling 0.1% decrease every.

It additionally gained essentially the most on the benchmark Nifty 50, which was buying and selling flat.