IndusInd Bank , a leading private sector bank in India, has announced a significant leadership change. Rajiv Anand has officially taken charge as the new Managing Director and Chief Executive Officer (CEO) of the bank, marking a new chapter in its corporate governance.

Key Highlights of the Appointment

• Effective Date: August 25, 2025
• Tenure: Three years (until August 24, 2028)
• Regulatory Approval: Appointment approved by the Reserve Bank of India (RBI)
• Board Approval: Confirmed by IndusInd Bank's Board of Directors on August 4, 2025
• Shareholder Approval: Pending

About Rajiv Anand

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

• Previous Position: Deputy Managing Director at Axis Bank
• Key Responsibilities: Led Wholesale Banking Business and drove the bank's digital agenda
• Career Highlights:
  • Founding Managing Director & CEO of Axis Asset Management Co. Limited
  • President of Retail Banking at Axis Bank
  • Board member and Head of Wholesale Banking at Axis Bank
• Qualifications: Commerce graduate and Chartered Accountant

Transition of Leadership

The appointment of Rajiv Anand concludes a period of interim management at IndusInd Bank:

• A 'Committee of Executives' had been overseeing the bank's operations since April 29, 2025
• The committee comprised Soumitra Sen (Head – Consumer Banking) and Anil Rao (Chief Administrative Officer)
• An Oversight Committee of the Board provided guidance during this transition period
• With Anand's appointment, both committees have been dissolved

Regulatory Compliance

IndusInd Bank has confirmed that Rajiv Anand is not debarred from holding the office of Director by any regulatory authority, including the Securities and Exchange Board of India (SEBI).

The appointment of Rajiv Anand as Managing Director & CEO signifies a new era for IndusInd Bank. With his extensive experience in the banking sector and expertise in digital initiatives, Anand is well-positioned to lead the bank through the evolving landscape of the financial industry. Shareholders will be watching closely as they await the opportunity to approve this significant appointment at the upcoming shareholder meeting.

IndusInd Bank has reported a net profit of Rs 604.00 crore in the latest quarter, marking a significant recovery from a consolidated net loss of Rs 2,329.00 crore in the March quarter. The bank has successfully resolved legacy issues in its treasury and microfinance businesses, which were linked to past irregularities in loan recognition and trading reverses.

Resolution of Legacy Issues

Chairman Sunil Mehta stated that the financial impact of these legacy issues is now behind the bank. He emphasized that enhanced oversight and controls have been implemented to prevent similar issues in the future. This development signals a positive turn for the bank's financial health and operational integrity.

New Leadership

In a significant move, the bank's board has approved the appointment of Rajiv Anand as the new Managing Director and CEO. Anand's tenure is set to begin on August 25, 2025, for a three-year term. With over 35 years of banking experience from his previous role as Deputy Managing Director at Axis Bank, Anand brings valuable expertise to IndusInd Bank's leadership.

Strategic Focus

IndusInd Bank is now focusing on sustainable growth in several key areas:

• Vehicle finance
• Retailisation
• Mid and small-sized corporates
• Granular liabilities

The bank is maintaining a cautious approach to unsecured lending, indicating a prudent risk management strategy.

Market Response

Despite the positive developments, IndusInd Bank's shares closed 0.90% lower at Rs 778.30 on Wednesday, reflecting the complex market dynamics and investor sentiment.

These developments mark a significant turning point for IndusInd Bank as it moves past its legacy issues and sets a course for sustainable growth under new leadership.