IndusInd Bank has announced key changes in its senior management team, with the resignation of Siddharth Banerjee and the appointment of Vasudeva Konda as Head of Global Markets Group, both effective March 23, 2026. The changes were disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Senior Management Transition Details

The bank has provided comprehensive details regarding the management changes as required under regulatory guidelines:

Departing Executive Profile

Siddharth Banerjee tendered his resignation from his position as Head of Global Markets Group & Investment Banking Group due to personal reasons. In his resignation communication, Banerjee reflected on his 15-year journey with the organization, describing it as "deeply fulfilling and enriching." He expressed gratitude for the guidance and trust provided by the organization and its senior leadership throughout his tenure. Banerjee highlighted his team's contributions to the bank's progress and committed to ensuring a smooth transition of responsibilities.

New Appointee Background

Vasudeva Konda has been appointed as the new Head of Global Markets Group and designated as Senior Management Personnel. Konda brings substantial experience from the banking sector, holding a PGDM from IIM Kolkata and a B Tech in Mechanical Engineering from IIT Madras.

Prior to joining IndusInd Bank, Konda was associated with ICICI Bank for over 26 years in various capacities:

• Treasury Operations (22 years): Played a key role in managing ICICI Bank's multicurrency balance sheet, liquidity and trading operations
• Risk Management (4 years): Transitioned to leadership role within the Risk Management Group, heading Enterprise Risk, ICAAP and Basel Risk analytics
• Operational Oversight: Managed Fixed Income, FX and money market activities across domestic and international operations

Regulatory Compliance

The announcement was made pursuant to Regulation 30 read with Schedule III, Part A, Para A(7) & A (7C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank has provided all required documentation, including the resignation letter and detailed disclosure information as mandated by regulatory requirements. The information has also been hosted on the bank's official website for stakeholder access.

Operational Continuity

The simultaneous nature of the resignation and appointment ensures continuity in the Global Markets Group operations. Banerjee's commitment to a smooth transition, combined with Konda's extensive experience in treasury and risk management, positions the bank to maintain operational efficiency during this leadership change. The appointment reflects the bank's focus on bringing experienced professionals to key positions within its organizational structure.

IndusInd Bank Limited has announced the approval of stock option grants under its Employee Stock Option Scheme (ESOP), demonstrating the bank's commitment to employee incentivization and retention. The Compensation and Nomination & Remuneration Committee sanctioned this grant on March 18, 2026, as part of the bank's ongoing efforts to align employee interests with organizational growth.

Grant Details and Beneficiaries

The committee approved the allocation of 81,500 stock options to 5 eligible employees of the bank. These options are convertible into an equivalent number of equity shares upon exercise, providing employees with potential ownership stakes in the organization.

Pricing and Vesting Structure

The grant price has been set at Rs. 820.85 per share, determined based on the closing price on the National Stock Exchange on March 17, 2026. This pricing methodology follows the practice of using the previous trading day's closing price from the stock exchange with the highest trading volume.

Vesting and Exercise Timeline

The stock options will vest over a three-year period following a staggered approach designed to encourage employee retention. The vesting schedule is structured as follows:

• Year 1: 33% of granted options
• Year 2: 33% of granted options
• Year 3: 34% of granted options

Once vested, employees will have a five-year window to exercise their options, providing flexibility in timing their equity participation based on market conditions and personal financial planning.

Regulatory Compliance

This grant has been executed in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full regulatory compliance. The bank has fulfilled its disclosure obligations by informing both the National Stock Exchange of India Limited and BSE Limited about this development. Additionally, detailed information regarding this grant has been made available on the bank's official website at www.indusind.bank.in , maintaining transparency with stakeholders and the investing public.