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IndusInd Bank Submits CEO Shortlist to RBI with Rajiv Anand as Top Pick

IndusInd Bank now awaits RBI approval of Rajiv Anand to finalize its leadership transition after months of governance turmoil.

IndusInd Bank submits CEO shortlist to RBI after leadership exits: Report
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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