Indusind Bank , one of India's leading private sector banks, has announced a significant change in its top leadership. The bank's Board of Directors has approved the appointment of Rajiv Anand as the new Managing Director & CEO for a three-year term, starting August 25, 2025.

Key Details of the Appointment

• Term: August 25, 2025 to August 24, 2028 (3 years)
• Approval Status: Received Reserve Bank of India (RBI) approval
• Additional Requirement: Subject to shareholder approval

About Rajiv Anand

Rajiv Anand brings a wealth of experience to his new role at IndusInd Bank:

• Previously served as Deputy Managing Director at Axis Bank
• Led Wholesale Banking Business and spearheaded the digital agenda at Axis Bank
• Founded and led Axis Asset Management Co. Ltd. as Managing Director & CEO in 2009
• Held the position of President of Retail Banking at Axis Bank
• Holds a Commerce degree and is a qualified Chartered Accountant

Appointment Process and Regulatory Compliance

According to the LODR (Listing Obligations and Disclosure Requirements) filing:

• The Board of Directors meeting for the appointment was held on August 4, 2025
• The meeting commenced at 9:36 p.m. (IST) and concluded at 9:58 p.m. (IST)
• Anand has been appointed as an 'Additional Director' in the category of Managing Director & CEO
• He will also serve as a Key Managerial Personnel of the Bank

Regulatory Disclosures

IndusInd Bank has confirmed that Rajiv Anand is not debarred from holding the office of Director by any order of SEBI or any other authority, in compliance with SEBI's instructions to Stock Exchanges dated June 14, 2018.

This strategic appointment comes as IndusInd Bank looks to strengthen its position in the competitive Indian banking sector. Rajiv Anand's extensive experience in wholesale banking, retail banking, and asset management is expected to bring valuable insights to the bank's operations and growth strategies.

Shareholders will have the opportunity to approve this appointment, as the bank moves forward with its leadership transition plan.

In a series of developments, both the Securities and Exchange Board of India (SEBI) and the Ministry of Corporate Affairs (MCA) have initiated investigations into IndusInd Bank , one of India's leading private sector banks.

SEBI Investigation

The SEBI Chair has confirmed that an investigation into IndusInd Bank is currently underway. However, specific details about the nature, scope, or timeline of this investigation were not disclosed.

MCA Preliminary Inquiry

In a parallel development, the Ministry of Corporate Affairs has completed a preliminary inquiry into IndusInd Bank. The inquiry has revealed violations related to governance and the Companies Act. The government is now considering forwarding the findings for a more detailed investigation by other regulators and agencies.

Bank's Response

As of now, IndusInd Bank has not issued an official statement regarding either the SEBI investigation or the MCA inquiry. The lack of detailed information leaves room for speculation, but it's important to note that the existence of investigations does not necessarily imply conclusive wrongdoing.

Recent Management Changes

In an unrelated development, IndusInd Bank recently announced a change in its senior management. According to the bank's latest LODR (Listing Obligations and Disclosure Requirements) filing:

• Mr. Jyoti Prasad Ratho, Head of Internal Audit, will cease to be part of the Senior Management Personnel of the bank.
• The change is due to Mr. Ratho's superannuation from the bank's services.
• This transition will take effect from the close of working hours on July 31, 2025.

While this management change is not connected to the ongoing investigations, it represents a significant shift in the bank's internal structure.

Market Impact

The news of both SEBI and MCA investigations may potentially impact investor sentiment towards IndusInd Bank. However, it's crucial for investors and stakeholders to await further details before drawing any conclusions.

As this situation develops, market participants will likely be watching closely for any additional statements from SEBI, MCA, or IndusInd Bank that might provide more clarity on the ongoing investigations.

IndusInd Bank continues to operate as usual, and the full implications of these regulatory probes remain to be seen. Stakeholders are advised to stay informed and monitor official communications from both the regulatory bodies and the bank for any updates on this matter.