Overview

• The board forwarded three candidates – Rajiv Anand, Rahul Shukla and Anup Saha – to meet the RBI’s June 30 deadline for naming a new CEO
• Rajiv Anand, deputy managing director at Axis Bank, holds priority status due to his extensive domestic and international banking experience
• The nominations follow April departures of CEO Sumant Kathpalia and deputy Arun Khurana after years of derivatives misaccounting and microfinance irregularities led to a Q4 loss
• IndusInd Bank’s board has proposed a fixed three-year term for the incoming chief executive under the Reserve Bank of India’s oversight
• Finalizing the CEO appointment is viewed as essential to strengthen governance controls, stabilize operations and reassure investors amid capital-raising talks