IndusInd Bank has announced several strategic initiatives and leadership changes as part of its ongoing organizational development. The bank's executive team has outlined key priorities that will shape its operations in the coming months.

Strategic Focus on Retail Deposits

The bank's management has indicated plans to step up focus on retail deposits, signaling a strategic shift towards strengthening its retail banking segment. This move reflects the bank's commitment to diversifying its deposit base and enhancing customer engagement in the retail sector.

Financial Position and Fundraising Plans

Regarding the bank's capital requirements, executives have stated that no fund raising is anticipated in the foreseeable future. This announcement suggests that the bank maintains a stable financial position and has adequate capital to support its current operations and growth plans.

Leadership Appointments Timeline

The bank expects to finalize appointments for three critical leadership positions before the current fiscal year concludes. These appointments include:

• Chief Technology Officer (CTO): To lead the bank's technology initiatives and digital transformation efforts
• Chief Risk Officer (CRO): To oversee risk management frameworks and compliance
• Head of Retail Banking: To spearhead the bank's retail banking operations and growth strategy

Strategic Implications

These developments indicate IndusInd Bank's focus on strengthening its organizational structure while maintaining financial stability. The emphasis on retail deposits aligns with the upcoming appointment of a new Head of Retail Banking, suggesting a coordinated approach to enhancing the bank's retail banking capabilities.

The completion of these leadership appointments before the fiscal year-end demonstrates the bank's commitment to ensuring continuity in its strategic initiatives and operational excellence.

IndusInd Bank has announced a major leadership transition with the appointment of Arijit Basu as its new Part-time Chairman, replacing Sunil Mehta whose tenure concludes on January 30, 2026. The announcement was made through a regulatory filing under SEBI Listing Regulations on January 23, 2026.

Leadership Transition Details

The bank's Board of Directors, meeting on January 23, 2026, approved the appointment based on Reserve Bank of India approval and recommendations from the Compensation and Nomination & Remuneration Committee. The transition timeline and key details are outlined below:

The Board meeting commenced at 11:48 a.m. IST and concluded discussions on the appointment proposal at 11:54 a.m. IST before proceeding to other agenda items.

Outgoing Chairman's Contributions

The Board and management expressed deep appreciation for Sunil Mehta's valuable contributions during his tenure. The bank acknowledged his steadfast leadership and unwavering support in steering the organization through challenging times. Mehta will cease to be Part-time Chairman and Director upon completion of his tenure on January 30, 2026.

New Chairman's Profile and Experience

Arijit Basu brings substantial banking and financial services expertise to his new role. His educational background includes a master's degree in arts from the University of Delhi and certification as a Certified Associate of Indian Institute of Bankers.

Professional Background

Basu's distinguished career spans several key leadership positions in the banking and insurance sectors:

• State Bank of India: Retired as Board Member and Managing Director
• SBI Life Insurance Company Ltd.: Served as MD & CEO
• HDB Financial Services Ltd.: Chairman of the Board (HDFC Bank subsidiary)

Current Board Positions and Advisory Roles

Basu currently maintains active involvement across multiple organizations:

Regulatory Compliance

The bank confirmed that Arijit Basu meets all regulatory requirements for the position. In accordance with SEBI's instructions to Stock Exchanges dated June 14, 2018, the bank verified that Basu is not debarred from holding the office of Director by virtue of any order from SEBI or other regulatory authorities.

The appointment reflects IndusInd Bank's commitment to maintaining strong governance standards and leadership continuity during this transition period. The new Chairman's extensive experience in banking, insurance, and financial services positions him well to guide the bank's strategic direction in the coming years.