Latest news about Indusind Bank
Indusind Bank
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More news about Indusind Bank
24Feb 26
IndusInd Bank Announces Key Senior Management Changes with New CRO and CCO Appointments
IndusInd Bank Limited announced key senior management changes effective February 24, 2026, appointing Mr. Saurav Saha as Chief Risk Officer and Ms. Judy Heredia as Chief Credit Officer. Both appointments are for 3-year terms and were approved during the board meeting. Mr. Saha brings extensive risk management experience from HDFC Bank and HSBC, while Ms. Heredia has three decades of experience with IndusInd Bank in credit operations. The outgoing Chief Risk Officer, Mr. Vivek Bajpeyi, will continue until his superannuation on March 31, 2026.
24Feb 26
IndusInd Bank Issues Postal Ballot Notice for Appointment of Arijit Basu as Part-time Chairman
IndusInd Bank has issued a postal ballot notice for shareholder approval of Mr. Arijit Basu's appointment as Non-Executive Independent Director and Part-time Chairman for three years from January 31, 2026 to January 30, 2029. The appointment, pre-approved by RBI, carries an annual remuneration of ₹35 lakhs plus sitting fees. Remote e-voting will be conducted from February 26 to March 27, 2026, with results declared by April 1, 2026.
23Feb 26
IndusInd Bank Conducts Analysts Meet at Kotak Flagship Conference on February 23, 2026
IndusInd Bank hosted an analysts and institutional investors meet on February 23, 2026, at the Kotak Flagship Conference in Mumbai. The event attracted 38 participants from major financial institutions including Abu Dhabi Investment Authority, J P Morgan Asset Management, HDFC Life Insurance, and Life Insurance Corporation of India. The bank conducted both one-on-one and group meetings in physical mode, ensuring no unpublished price sensitive information was shared and making presentation materials available on its website for transparency.
31Jan 26
IndusInd Bank Announces Leadership Transition: Arijit Basu Appointed as Part-Time Chairman
IndusInd Bank Limited announced the appointment of Mr. Arijit Basu as Part-Time Chairman effective January 31, 2026, replacing Mr. Sunil Mehta who completed his tenure on January 30, 2026. Basu has been appointed for a three-year term until January 30, 2029, subject to shareholder approval. The new Chairman brings extensive banking experience, having served as Managing Director of State Bank of India and MD & CEO of SBI Life Insurance Company Ltd. He currently holds multiple board positions and advisory roles across various organizations including Prudential Plc and Ares Management Corporation.
28Jan 26
IndusInd Bank Updates Senior Management Personnel List with Key Appointments
IndusInd Bank Limited has updated its Senior Management Personnel list as of January 28, 2026, adding Manikantan Iyer as Chief of Internal Vigilance and Shruti Kumar as Head – FRRG while removing Niraj Piyush Shah due to reporting hierarchy changes. The bank now has 19 senior management positions across various functions including banking operations, risk management, compliance, and technology. Both new appointees bring significant industry experience, with comprehensive backgrounds in their respective domains.
28Jan 26
IndusInd Bank Designates Ravi Pangal as Chief Information Officer in Senior Management Reshuffle
IndusInd Bank Limited has designated Mr. Ravi Pangal as Chief Information Officer effective January 28, 2026, as part of its Senior Management Personnel under SEBI regulations. Pangal brings extensive technology leadership experience from HSBC, Standard Chartered, ANZ Bank, and other institutions. He holds an MCA and BSc from Bharathiar University. The appointment was properly disclosed to stock exchanges following regulatory compliance requirements.
28Jan 26
IndusInd Bank Receives Rs. 2.03 Lakh RBI Penalty for Currency Chest Discrepancies
IndusInd Bank disclosed a Rs. 2,03,000/- penalty imposed by RBI on its Chennai Currency Chest for Soiled Note Remittance discrepancies. The penalty was levied under Master Direction DCM (CC) No. G-1/03.44.01/2025-26 for violations detected during examination on September 30, 2025. The bank received the penalty notice on January 27, 2026, and made the mandatory disclosure under SEBI Regulation 30 on January 28, 2026.
27Jan 26
IndusInd Bank Publishes Q3FY26 Earnings Call Transcript Following Results
IndusInd Bank has released the transcript of its earnings call with analysts and investors held on January 23, 2026, regarding Q3FY26 financial results. The transcript, covering discussions on unaudited standalone and consolidated results for the quarter and nine months ended December 31, 2025, is now available on the bank's website in compliance with SEBI listing regulations.
23Jan 26
IndusInd Bank focuses on commercial vehicle loans and microfinance for growth recovery
IndusInd Bank is leveraging its commercial vehicle and microfinance portfolios for recovery under CEO Rajiv Anand's leadership. The December quarter saw total loan book decline to ₹3.17 trillion, with commercial vehicle loans growing 5% year-on-year while microfinance loans fell 46%. The bank aims to achieve 1% return on assets over 12-18 months while focusing on retail deposit growth and system-level expansion by 2026-27.
23Jan 26
IndusInd Bank Reports Stable Asset Quality Trends Across Core Businesses with Microfinance Recovery Signs
IndusInd Bank has reported stable asset quality trends across its core business segments, demonstrating effective risk management and operational resilience. The microfinance segment, previously facing challenges, is now showing early signs of recovery, indicating potential improvement in this business vertical and overall portfolio performance.
23Jan 26
IndusInd Bank Executive Anticipates Microfinance Sector Growth from Q4
IndusInd Bank executive anticipates growth in the microfinance sector starting from Q4, reflecting optimistic market assessment and potential recovery in this business segment. The projected timeline suggests strategic planning and confidence in favorable market conditions.
23Jan 26
IndusInd Bank to Strengthen Retail Focus with Key Leadership Appointments
IndusInd Bank has announced plans to increase focus on retail deposits while confirming no fundraising activities are expected in the foreseeable future. The bank expects to complete key leadership appointments including new CTO, CRO, and Head of Retail Banking before the current fiscal year-end, indicating strategic organizational strengthening.
23Jan 26
IndusInd Bank Announces Leadership Transition: Arijit Basu to Replace Sunil Mehta as Chairman
IndusInd Bank announced a leadership transition with Sunil Mehta completing his tenure as Part-time Chairman on January 30, 2026, and Arijit Basu taking over the role from January 31, 2026. The Board approved Basu's three-year appointment as Part-time Chairman and Non-Executive Independent Director, subject to shareholder approval. Basu brings extensive banking experience from his previous roles as Managing Director of State Bank of India and MD & CEO of SBI Life Insurance Company Ltd., along with current board positions across multiple organizations.
22Jan 26
IndusInd Bank Q3 Preview: PAT May See Sharp Erosion Up to 99%, NII to Likely Fall Up to 18%
IndusInd Bank faces a challenging Q3FY26 with brokerages projecting 78-99% YoY decline in PAT and up to 18% drop in NII. Estimates show PAT ranging from ₹13.00 crore to ₹313.00 crore, while NII expected between ₹4,300.00-₹4,441.00 crore. The bank confronts margin compression, elevated credit costs, and muted loan growth, with earnings announcement scheduled for January 23.
19Jan 26
IndusInd Bank Records ₹18.94 Crore Block Trade on NSE at ₹944.05 Per Share
IndusInd Bank Ltd. executed a significant block trade on NSE worth ₹18.94 crores, involving approximately 200,673 shares at ₹944.05 per share. The transaction highlights substantial institutional activity in the banking stock and demonstrates continued investor interest in the private banking sector.
13Jan 26
IndusInd Bank Schedules Q3FY26 Earnings Call for January 23, 2026
IndusInd Bank Limited has scheduled an earnings call for January 23, 2026, at 5:00 PM IST to discuss Q3FY26 financial results for the quarter and nine months ended December 31, 2025. The announcement, made under SEBI Regulation 30, provides multiple participation options including audio webcast and dial-in access with Q&A capabilities. The bank will subsequently make audio replay and transcript available on its website for stakeholders.
09Jan 26
IndusInd Bank Plans Board Expansion to Strengthen Governance Framework
IndusInd Bank is expanding its board from nine to approximately twelve members, including elevating two senior executives to board positions as part of a governance overhaul. Currently, CEO Rajiv Anand is the only executive board member among nine total members. This restructuring aims to strengthen oversight and align with regulatory expectations as private sector banks face increased scrutiny on governance, succession planning, and board composition.
09Jan 26
IndusInd Bank Plans Board Expansion to Strengthen Corporate Governance
IndusInd Bank has announced plans to expand its board structure to enhance corporate governance. The initiative aims to strengthen organizational oversight and improve decision-making processes. This move reflects the bank's commitment to adopting best practices in corporate governance and institutional strengthening.
06Jan 26
IndusInd Bank Schedules Board Meeting for January 23, 2026 to Approve Q3FY26 Financial Results
IndusInd Bank has scheduled its Board of Directors meeting for January 23, 2026, to approve Q3FY26 unaudited financial results for the quarter and nine months ended December 31, 2025. The bank will conduct earnings calls with analysts and investors post-announcement, with transcripts available on its website. Trading window restrictions remain in effect from December 26, 2025, until January 25, 2026, in compliance with SEBI regulations.
05Jan 26
IndusInd Bank shares in focus after Q3 update reveals 13% YoY drop in advances
Indusind Bank reported challenging Q3 FY26 operational metrics with net advances declining 13% year-on-year to ₹3.18 lakh crore and deposits falling 4% to ₹3.94 lakh crore. The CASA ratio continued its downward trend to 30.30%, highlighting ongoing pressure on low-cost funding as depositors shift to higher-yielding alternatives.
03Jan 26
IndusInd Bank Witnesses Senior Executive Departures Amid Leadership Restructuring
IndusInd Bank announced the resignation of two senior executives - Rana Vikram Anand (head of customer management) and Anish Behl (head of wealth and para banking) - adding to recent senior-level departures. Simultaneously, the bank has strengthened its leadership with new appointments including Ganesh Sankaran as head of wholesale banking group, Balaji Narayanamurthy as chief data officer, and Amitabh Kumar Singh as chief human resources officer.
02Jan 26
IndusInd Bank Receives ESG Rating of 72 for FY 2025 from SES ESG Research
IndusInd Bank disclosed receiving an ESG rating of 72 for FY 2025 from SES ESG Research Private Limited on January 2, 2026. The bank clarified that this was an independent assessment conducted without its engagement, based on publicly available information. The rating details are accessible on both SES ESG's website and the bank's official website, ensuring transparency for stakeholders.
02Jan 26
IndusInd Bank Announces Resignation of Two Senior Management Personnel
IndusInd Bank disclosed the resignation of two senior management personnel effective January 30 and April 1, 2026. Mr. Rana Vikram Anand, Head of Customer Management, and Mr. Anish Behl, Head of Wealth and Para Banking, submitted their resignations to pursue external opportunities. The bank has complied with all SEBI regulatory disclosure requirements and provided proper documentation to stock exchanges.
30Dec 25
IndusInd Bank Grants 95,000 Stock Options to Employees Under ESOP Scheme
IndusInd Bank's Compensation and Nomination & Remuneration Committee approved the grant of 95,000 stock options to 5 eligible employees on December 30, 2025, under the bank's ESOP scheme. The options, convertible into equity shares, are priced at ₹839.60 per share based on NSE's previous trading day closing price. The vesting period spans 3 years with a staggered schedule of 33%, 33%, and 34% annually, followed by a 5-year exercise window from the vesting date.
24Dec 25
IndusInd Bank Shares in Focus as SFIO Formalizes ₹2,600 Cr Fraud Investigation
IndusInd Bank received formal communication from SFIO regarding investigation into ₹2,600 crore accounting discrepancies involving internal derivative trades, microfinance income irregularities, and misclassified asset entries. The probe escalated from telephonic conversations to written communication under Section 212 of Companies Act, with shares expected to remain in market focus.
24Dec 25
IndusInd Bank Receives Formal SFIO Investigation Letter Under Companies Act
IndusInd Bank has received a formal investigation letter from the Serious Fraud Investigation Office (SFIO) dated December 23, 2025, under Section 212 of the Companies Act 2013. The investigation relates to accounting irregularities that the bank self-reported in June 2025, including issues with internal derivative trades, unsubstantiated balances, and microfinance income. The bank continues to cooperate fully with the investigation.
18Dec 25
IndusInd Bank Clarifies SFIO Probe Was Reported Under RBI Fraud Guidelines
IndusInd Bank has clarified that the SFIO investigation was not independently ordered by MCA but was mandatory reporting under RBI fraud guidelines for cases above ₹1 crore. The bank reported matters related to derivative trades, unsubstantiated balances, and microfinance income irregularities to SFIO on June 2, 2025, and is currently awaiting written communication from SFIO for additional details.
17Dec 25
Indusind Bank: Chief Transformation Officer Shiv Bhasin Resigns From Bank
Indusind Bank announced the resignation of Chief Transformation Officer Shiv Bhasin, effective January 16, 2026. Bhasin submitted his resignation on December 17, 2025, citing pursuit of opportunities outside the bank, and committed to ensuring smooth transition of responsibilities during the notice period.
10Dec 25
IndusInd Bank Receives ESG Rating of 83 from CFC Finlease Private Limited
IndusInd Bank has been assigned an ESG rating of 83 by CFC Finlease Private Limited on December 10, 2025, based on publicly available information for FY2025. The rating was independently assigned without bank engagement and disclosed pursuant to SEBI regulations. The rating information is available on BSE's website and the bank's official website for stakeholder reference.
10Dec 25
IndusInd Bank Launches Jio-BP Mobility+ Credit Card with Enhanced Fuel Rewards
IndusInd Bank has officially launched its first fuel-based credit card in partnership with Jio-BP, featuring RuPay-powered transactions and comprehensive reward structure. The Mobility+ Credit Card offers 400 welcome bonus points, 12 points per ₹100 fuel spend, monthly bonuses, and lifestyle rewards, targeting India's digitally savvy consumers across Jio-BP's 2,050 station network.
10Dec 25
IndusInd Bank Chairman Sunil Mehta to Resign in January
IndusInd Bank Chairman Sunil Mehta will resign from his position in January, marking a significant leadership transition for the private sector bank. The announcement represents an important corporate governance development for the financial institution.
08Dec 25
IndusInd Bank Strengthens Leadership: Ganesh Sankaran Appointed as Head of Wholesale Banking Group
IndusInd Bank has announced the appointment of Ganesh Sankaran as Head of the Wholesale Banking Group, effective December 8, 2025. Sankaran brings over three decades of banking experience, with expertise in Wholesale, Retail Credit, and SME segments. He has held senior leadership positions at prominent banks including Axis Bank, Federal Bank, and HDFC Bank. Sankaran's appointment is expected to contribute significantly to IndusInd Bank's growth strategies and operational excellence in the wholesale banking segment.
21Nov 25
IndusInd Bank Refutes Reports of $1 Billion Capital Raise via QIP
IndusInd Bank has officially refuted media reports suggesting plans to raise $1 billion through a Qualified Institutional Placement (QIP). The bank clarified to stock exchanges that no such discussions are ongoing. IndusInd Bank recently participated in the Morgan Stanley Twenty-Fourth Annual Asia Pacific Summit in Singapore, engaging with various institutional investors and asset management firms. The bank assured that no unpublished price-sensitive information was shared during these meetings.
21Nov 25
IndusInd Bank Explores Potential Share Sale to Qualified Institutional Investors
IndusInd Bank is assessing investor interest for a possible share sale to Qualified Institutional Investors (QIIs). The bank recently participated in the Morgan Stanley Twenty-Fourth Annual Asia Pacific Summit in Singapore, engaging with various institutional investors including Balyasny Asset Management, T Rowe Price, and GIC. IndusInd Bank emphasized that no unpublished price-sensitive information was shared during the investor meet, maintaining transparency and regulatory compliance. The bank has made the presentation from the investor meet available on its website for public access.
20Nov 25
IndusInd Bank Unveils Major Restructuring Plan to Boost Profitability
IndusInd Bank has revealed plans for a significant organizational restructuring aimed at enhancing profitability and addressing performance issues. The plan focuses on boosting profits, managing performance, optimizing workforce by removing low performers while maintaining overall employee count, and conducting a comprehensive cleanup. The bank recently participated in the Morgan Stanley Twenty-Fourth Annual Asia Pacific Summit, engaging with institutional investors such as Amansa Capital, Millennium Partners, and Marshall Wace Asset Management. No unpublished price-sensitive information was shared during these meetings.
13Nov 25
Mumbai Police EOW Clears IndusInd Bank Executives of Criminal Conduct in Accounting Discrepancies
The Mumbai Police Economic Offences Wing (EOW) has concluded its investigation into IndusInd Bank's accounting discrepancies, finding no evidence of criminal conduct. The ₹1,950.00 crore discrepancy was determined to be a genuine accounting error, not fund manipulation. A ₹258.00 crore entry, initially flagged in an audit report, was also cleared of suspicion. Top executives, including Sumant Kathpalia, were questioned and cleared of wrongdoing. The EOW is seeking clarification from the RBI on technical points and expects to close the enquiry without filing an FIR.
11Nov 25
IndusInd Bank Initiates Salary Clawback from Former Top Executives Over Misconduct
IndusInd Bank has begun the process of clawing back salaries from its ex-CEO and deputy CEO following findings of misconduct. This action aims to recover previously paid compensation based on the misconduct determination. The specific details of the misconduct and the amounts involved in the clawback have not been disclosed.
10Nov 25
IndusInd Bank Appoints Amitabh Kumar Singh as Chief Human Resources Officer
IndusInd Bank has appointed Amitabh Kumar Singh as its new Chief Human Resources Officer (CHRO) and Senior Management Personnel, effective November 10, 2025. Singh brings 28 years of experience, including 21 years with the ICICI Group. He holds a postgraduate degree in Human Resources from XISS, Ranchi. His appointment aims to strengthen IndusInd Bank's leadership team and enhance its human resource management capabilities.
03Nov 25
IndusInd Bank Unveils Three-Year Turnaround Plan After Governance Crisis
IndusInd Bank has outlined a strategic three-year plan to regain market position following governance and accounting issues. The bank aims to achieve system-level growth by 2026-27, gain market share by 2027-28, and dominate chosen segments by 2028-29. Key financial targets include achieving a 1.00% Return on Assets within 12-18 months. The bank plans to grow its commercial vehicle financing business, reduce its microloan portfolio market share, and explore new opportunities in wealth management and acquisition financing. Under new CEO Rajiv Anand, IndusInd Bank expects to grow in line with India's banking sector in the coming year.
24Oct 25
IndusInd Bank Deputy Settles Half of Alleged Insider Trading Gains with SEBI
Arun Khurana, deputy chief of IndusInd Bank, has deposited 50% of the alleged insider trading gains with SEBI, resulting in the lifting of restrictions on his bank accounts. This action follows a Securities Appellate Tribunal order. SEBI is investigating six bank officials for insider trading, with alleged illegal gains totaling 197.80 million rupees. The case is part of a larger crisis at IndusInd Bank involving governance issues and accounting irregularities, which has led to the departure of key executives including CEO Sumant Kathpalia.
20Oct 25
IndusInd Bank Narrows Q2 Net Loss, Reports Improved Asset Quality
IndusInd Bank reported a net loss of 4.40 billion rupees in Q2, an improvement from the 13.25 billion rupees loss in the same period last year. Revenue declined to 116.00 billion rupees from 127.00 billion rupees year-over-year. The bank's asset quality improved marginally, with Gross Non-Performing Assets (GNPA) decreasing to 3.60% from 3.64% and Net Non-Performing Assets (NNPA) reducing to 1.04% from 1.12% in the previous quarter.
18Oct 25
IndusInd Bank Reports Net Loss of ₹437 Crores in Q2, Cites Microfinance Pressures
IndusInd Bank reported a net loss of ₹437.00 crores for Q2, down from a profit of ₹1,331.00 crores in the same quarter last year. The bank cited cyclical pressures in the microfinance industry and balance sheet strengthening measures as primary reasons. Net Interest Income decreased to ₹4,409.00 crores from ₹5,347.00 crores, while Net Interest Margin fell to 3.32% from 4.08%. Deposits declined to ₹3,89,600.00 crores. Despite challenges, the bank's GNPA improved slightly to 3.60%, and its Capital Adequacy Ratio increased to 17.10%. The bank remains focused on digital transformation and has a customer base of approximately 42 million.
17Oct 25
IndusInd Bank Anticipates Sharp Profit Decline in Q2, Addresses Past Accounting Irregularities
IndusInd Bank is expected to report a significant drop in Q2 profit, with estimates ranging from ₹240 crore to ₹796 crore, potentially an 82% year-on-year decline. Net Interest Income is projected to fall by up to 21%. The bank faces challenges including weak treasury income, elevated provisions, margin compression, and sluggish loan growth. IndusInd Bank also clarified that a ₹255 crore accounting discrepancy mentioned in recent reports was part of an investigation concluded in April 2025, with impacts already reflected in FY 2024-25 financial statements.
17Oct 25
IndusInd Bank Clarifies: No New Investigation Underway
IndusInd Bank has issued a clarification regarding news reports suggesting a fresh probe. The bank confirms there is no new investigation and addresses a Rs 255 crore accounting irregularity from an April 2022 report. This irregularity has been reflected in the FY 2021-22 audited financial statements. The bank emphasizes its compliance with all required disclosures and commitment to transparency.
16Oct 25
EOW Probes New ₹258 Crore Entry in IndusInd Bank Case
The Mumbai Police Economic Offences Wing (EOW) has discovered a new ₹258 crore entry in the ongoing IndusInd Bank investigation, separate from the previously reported ₹1,950 crore accounting mismatch. The new entry, identified in a Grant Thornton audit report covering 2015-2024, was allegedly used to boost the bank's net interest income during underperforming quarters. While the ₹1,950 crore mismatch appears to be an accounting error, the EOW is focusing on potential criminality linked to the ₹258 crore entry. Former executives are to be re-summoned for questioning, and the audit report suggests senior management was aware of accounting discrepancies by 2023 but only informed the board in March 2025.
13Oct 25
IndusInd Bank's Ex-CFO Allegedly Aware of Fraudulent Accounting Practices
IndusInd Bank is facing serious allegations of fraudulent accounting practices, potentially dating back to 2017 or earlier. The bank's former CFO is alleged to have been aware of these practices. Email evidence suggests possible treasury fraud. The allegations, if proven, could lead to increased regulatory scrutiny, impact investor confidence, and prompt internal investigations and governance reviews.
09Oct 25
IndusInd Bank Revamps Leadership Team with Key Executive Appointments
IndusInd Bank, led by MD and CEO Rajiv Anand, has announced a major overhaul of its executive team. Key appointments include Viral Damania as CFO, Anand Vardhan as General Counsel, Pragati Gondhalekar as Head of Internal Audit, Pankaj Sharma as Head of Business Transformation, and Sheran Mehra as Chief Marketing Officer. These appointments aim to accelerate growth, strengthen core operations, and drive sustainable value. Viral Damania's appointment as CFO, with over 27 years of experience at Bank of America India, is particularly significant for the bank's financial strategy.
08Oct 25
IndusInd Bank Official's Family Implicated in ₹35+ Crore Insider Trading Scandal
An insider trading scandal involving the family of an IndusInd Bank official has come to light. The case, under SEBI investigation, centers on unauthorized trading of Kesoram Industries shares based on confidential information about UltraTech's acquisition talks. The official's wife purchased shares worth over ₹38.00 crore, with family profits exceeding ₹32.00 crore. The official gained knowledge through client meetings and shared acquisition details with colleagues via email in November 2023. SEBI has issued an interim order, while IndusInd Bank has stated it will investigate the claims thoroughly.
04Oct 25
IndusInd Bank Reports Sequential Decline in Advances and Deposits for Q2
IndusInd Bank experienced a 2% quarter-on-quarter decrease in both net advances and deposits for Q2 FY24. Net advances fell to ₹3.27 lakh crore, while deposits dropped to ₹3.89 lakh crore. The CASA ratio declined to 30.8% from 31.5%. The bank appointed Viral Damania as its new CFO, effective September 22, following recent accounting issues. This marks the second senior appointment under new MD and CEO Rajiv Anand.
04Oct 25
IndusInd Bank Reports Decline in Advances and Deposits Amid Challenging Quarter
IndusInd Bank's Q2 results show a challenging quarter with declining business metrics but some financial surprises. Net advances fell 8.35% YoY to ₹3,27,349 crore, and deposits dropped 5.48% to ₹3,89,803 crore. CASA ratio weakened to 30.80% from 35.90%. Despite this, net profit of ₹604 crore, though down 72% YoY, surpassed estimates. Net Interest Income reached ₹4,640 crore, beating expectations. Asset quality showed stress with Gross NPAs rising to 3.64%. The bank maintained focus on retail and small business segments, with deposits in this area at ₹1,84,157 crore.
30Sept 25
IndusInd Bank Appoints Anand Vardhan as General Counsel and Senior Management Personnel
IndusInd Bank has appointed Anand Vardhan as its new General Counsel and designated him as Senior Management Personnel, effective September 30, 2025. Vardhan brings 26 years of legal experience, having previously served as Group General Counsel at Piramal Group. His expertise includes legal documentation, litigation, regulatory compliance, and strategic partnerships. Vardhan's appointment is expected to strengthen IndusInd Bank's legal and compliance framework.
29Sept 25
IndusInd Bank Directors' Compensation Soars Amid Derivatives Portfolio Crisis
IndusInd Bank has seen a significant increase in directors' sitting fees following a derivatives portfolio discrepancy. Board meetings increased from 21 to 31, with 180-200 meetings held between March and August. The Risk Management Committee meetings rose from 5 to 14. Directors' compensation saw substantial increases, with the Chairman's fees doubling to ₹96.25 lakh. The bank attributes the increased oversight to the exit of key personnel and regulatory directives for a board oversight committee.
22Sept 25
IndusInd Bank CFO Questioned by Mumbai Police Over ₹1,979 Crore Accounting Error
Mumbai Police's Economic Offences Wing (EOW) is investigating an alleged ₹1,979 crore accounting error in IndusInd Bank's derivative portfolio. The bank's CFO, Gobind Jain, has been questioned, and former executives have been summoned. The revelation caused a 25% drop in the bank's stock price, erasing ₹15,000 crore in market value. The error reportedly began in 2015 but only surfaced recently. A Grant Thornton audit identified lapses by 25 employees, who have been suspended. The bank's management filed the complaint, indicating cooperation with authorities. IndusInd Bank continues operations and has appointed a new CFO, Mr. Viral Damania, effective September 22, 2025.
22Sept 25
IndusInd Bank Appoints Viral Damania as New CFO
IndusInd Bank has appointed Viral Damania as its new Chief Financial Officer (CFO), effective September 22, 2025. Damania, previously CFO at Bank of America India, brings over 27 years of experience in banking and professional services. He is a qualified Chartered Accountant, Company Secretary, and Cost & Works Accountant with ISACA certification. Santosh Kumar, who held additional responsibilities as Special Officer-Finance & Accounts, will continue as Deputy CFO but will no longer be categorized as a Key Managerial Person.
17Sept 25
IndusInd Bank Executives Summoned by Mumbai EOW Over ₹1,960 Crore Accounting Irregularities
Mumbai's Economic Offences Wing has summoned three top executives of IndusInd Bank, including MD & CEO Sumant Kathpalia, in connection with alleged accounting irregularities of approximately ₹1,960 crore. The investigation stems from a complaint by the bank's management regarding misaccounted derivative trades. No FIR has been filed yet, as the EOW is still gathering evidence to determine if a cognizable offence has occurred.
15Sept 25
CRED and IndusInd Bank Launch Innovative RuPay Credit Card with 5% E-commerce Rewards
CRED and IndusInd Bank have partnered to introduce the CRED IndusInd Bank RuPay Credit Card, offering 5% rewards on all e-commerce transactions and 1% on offline purchases. The card features flexible redemption options across various platforms, zero joining fees, and a quick 2-minute application process. Targeting CRED's 1.5 crore affluent members, the card aims to revolutionize the credit card experience for digital-savvy consumers.
05Sept 25
IndusInd Bank Shares Worth ₹75.39 Crore Change Hands in NSE Block Deal
IndusInd Bank witnessed a significant block trade on the National Stock Exchange (NSE). Approximately 996,237 shares were traded at ₹756.70 per share, totaling ₹75.39 crore. The transaction suggests substantial investor interest in the stock and could potentially indicate shifts in institutional holdings or market sentiment. The identities of the buyers and sellers were not disclosed.
04Sept 25
IndusInd Bank Ex-CFO Alleges Long-standing Treasury Issues, Seeks Chairman's Removal
IndusInd Bank's former CFO has written to the Prime Minister, alleging serious irregularities in the bank's operations and calling for the board chairman's removal. The ex-CFO claims to have uncovered significant issues in treasury operations persisting for over a decade. IndusInd Bank denies all allegations, stating it has already disclosed accounting discrepancies to stock exchanges and appointed external investigators. The bank reported suspected frauds leading to a quarterly loss of Rs 2000.00 crore, with auditors flagging Rs 2600.00 crore worth of accounting discrepancies. This revelation caused a 27.00% plunge in the bank's stock value. The former CEO stepped down following internal investigations that revealed senior officials had overridden financial controls.
01Sept 25
IndusInd Bank Appoints Pragati Gondhalekar as Head of Internal Audit Amid Management Reshuffle
IndusInd Bank has appointed Pragati Gondhalekar as Head of Internal Audit, effective September 1, 2025. Gondhalekar brings 27 years of experience in global audit and consulting within financial services. This appointment is part of a management reshuffle following recent accounting challenges, including a Rs 2,000-crore loss linked to derivatives accounting and issues in the microfinance portfolio. Despite setbacks, the bank reported a net profit of Rs 604 crore in the June quarter, showing signs of recovery. The bank is also filling other key positions, with shareholders approving Rajiv Anand as the new CEO and Managing Director.
01Sept 25
IndusInd Bank Shareholders Reject Additional Nominee Director Proposal
At IndusInd Bank's AGM on August 28, shareholders voted against a proposal allowing promoters to nominate an additional director to the board. The resolution was rejected by 54% of shareholders. IndusInd International Holdings (IIHL), a key promoter, acknowledged the misinterpretation and expressed willingness to address shareholder concerns. IIHL's request to increase its stake from 15% to 26% is pending RBI approval. IndusInd Bank's shares closed 0.80% lower at ₹740.90 following the announcement.
30Aug 25
IndusInd Bank Shareholders Reject Board Nominee Proposal, Approve New CEO Appointment
IndusInd Bank's 31st AGM saw mixed results. Shareholders rejected a proposal to amend articles for inducting two nominee directors, despite RBI approval. Rajiv Anand was overwhelmingly approved as the new MD and CEO. The promoter, IIHL, expressed disappointment over the board nominee rejection, citing misinterpretation by proxy advisors. Other key resolutions, including appointments of auditors and issuance of bonds, were approved with high majority.
25Aug 25
IndusInd Bank Welcomes Rajiv Anand as New Managing Director & CEO
IndusInd Bank has appointed Rajiv Anand as its new Managing Director and CEO, effective August 25, 2025, for a three-year term. The appointment, approved by the RBI and the bank's Board of Directors, is pending shareholder approval. Anand, formerly Deputy Managing Director at Axis Bank, brings extensive experience in wholesale banking and digital initiatives. This appointment concludes the interim management period overseen by a 'Committee of Executives' and an Oversight Committee of the Board.
21Aug 25
IndusInd Bank Returns to Profit After Resolving Legacy Issues, Appoints New CEO
IndusInd Bank has reported a net profit of Rs 604.00 crore, recovering from a previous quarter loss of Rs 2,329.00 crore. The bank has resolved legacy issues in its treasury and microfinance businesses. Rajiv Anand has been appointed as the new Managing Director and CEO, effective August 25, 2025, for a three-year term. The bank is focusing on sustainable growth in vehicle finance, retailisation, mid and small-sized corporates, and granular liabilities, while maintaining caution in unsecured lending.
13Aug 25
Mumbai EOW Launches Probe into Alleged Accounting Lapse at IndusInd Bank
Mumbai's Economic Offences Wing (EOW) has begun a preliminary enquiry into an alleged accounting lapse at IndusInd Bank, following a complaint from the bank's management. The EOW has recorded statements from staff in the CFO and Deputy CFO's offices. High-ranking officials, including Managing Director and CEO Sumant Kathpalia and senior official Arun Khurana, are expected to be summoned for questioning. The investigation aims to determine if the matter is cognizable before filing an FIR. The CFO and Deputy CFO may also be called for further questioning as part of the broad scope of the inquiry.
11Aug 25
IndusInd Bank Unveils 'Indus Startup Banking' Amid Workforce Changes and Leadership Transition
IndusInd Bank has introduced 'Indus Startup Banking', a comprehensive banking program for early-stage startups in India. The program offers financial benefits, tech integration, business solutions, and value-added services to startups under 10 years old. This initiative comes amid internal changes at the bank, including workforce reduction and increased high-earning employees. The bank reported a 70.50% decline in net profit, attributed to higher provisioning for discrepancies in derivatives portfolio accounts. A leadership transition is also underway, with Rajiv Anand set to become the new MD and CEO in 2025.
10Aug 25
IndusInd Bank Unveils FY26 Strategy Amid Leadership Change and Accounting Lapses
IndusInd Bank has revealed a new strategy for FY26 focusing on retail operations and cautious corporate lending. This comes after reporting a consolidated net loss of Rs 2,329.00 crore in the March quarter, attributed to accounting lapses totaling Rs 3,248.00 crore. The bank is undergoing a leadership transition with Rajiv Anand set to replace Sumant Kathpalia as MD and CEO. Chairman Sunil Mehta emphasized improving governance, enhancing transparency, and initiating cultural transformation to address these challenges.
05Aug 25
IndusInd Bank Appoints Rajiv Anand as MD & CEO, Aims to Strengthen Leadership Team
IndusInd Bank's Board of Directors has approved Rajiv Anand as the new Managing Director and CEO for a three-year term starting August 25, 2025, subject to shareholder approval. Anand, with 35 years of experience in banking and finance, joins from Axis Bank where he was Deputy Managing Director. The bank is also filling other key positions including Head of Treasury, CFO, and Chief of Internal Audit. This leadership restructuring follows recent challenges, including a Rs 2000 crore loss from derivatives accounting issues and a Rs 2329 crore quarterly loss in March. However, the bank showed recovery with a Rs 604 crore net profit in the June quarter.
04Aug 25
IndusInd Bank Appoints Rajiv Anand as New Managing Director & CEO
IndusInd Bank's Board of Directors has approved Rajiv Anand as the new Managing Director & CEO for a three-year term starting August 25, 2025, subject to shareholder approval. Anand, previously Deputy Managing Director at Axis Bank, brings extensive experience in wholesale and retail banking. The appointment has received RBI approval and complies with SEBI regulations.
01Aug 25
SEBI and MCA Investigations into IndusInd Bank: Governance and Companies Act Violations Found
SEBI has initiated an investigation into IndusInd Bank, while the Ministry of Corporate Affairs (MCA) has completed a preliminary inquiry revealing governance and Companies Act violations. The MCA is considering forwarding its findings for a more detailed investigation. IndusInd Bank has not issued an official statement regarding these investigations. Separately, the bank announced that Mr. Jyoti Prasad Ratho, Head of Internal Audit, will cease to be part of the Senior Management Personnel due to superannuation, effective July 31, 2025.
29Jul 25
IndusInd Bank Shares Rise Despite Asset Quality Concerns in Q1 Results
IndusInd Bank reported a net profit of Rs 684.00 crore in Q1, aligning with estimates and recovering from previous quarter's loss. Net Interest Income surged 52% year-on-year to Rs 4,640.00 crore, with Net Interest Margin improving to 3.46%. However, asset quality concerns persisted with Gross Non-Performing Assets ratio rising to 3.64% from 3.13%. Despite these challenges, the bank's shares gained 0.92% post-results announcement.
28Jul 25
IndusInd Bank Reports Q1 Profit of ₹604 Crore; New CEO to Decide on Fund Raising
IndusInd Bank has reported a net profit of ₹604.00 crore for the first quarter, reversing the previous quarter's loss. The bank's Net Interest Income stood at ₹4,640.00 crore, with Net Interest Margin improving to 3.46%. Despite a slight contraction in loan book and deposits, the bank has set ambitious growth targets of 18-20% for loan growth and 17-18% for Return on Equity. The bank plans to focus on wealthy retail customers, auto financing, and technology-driven cross-selling strategies. A leadership transition is underway, with final recommendations submitted to the regulator. The bank has also taken steps to strengthen governance and enhance operational controls.
28Jul 25
IndusInd Bank's New Leadership to Decide on Fund Raising as Q1 Profits Rebound
IndusInd Bank has reported a consolidated net profit of ₹604.00 crores for Q1, marking a return to profitability. Key financial highlights include Net Interest Income of ₹4,640.00 crores, improved Net Interest Margin of 3.46%, and deposits at ₹3,97,144.00 crores. The bank's GNPA ratio stood at 3.64% and NNPA at 1.12%. Decisions on potential fund-raising plans are pending the appointment of a new CEO and board. The bank is focusing on integrating its business lines under the 'One IndusInd' approach and maintaining profitability during this transitional phase.
28Jul 25
IndusInd Bank Returns to Profitability, Targets Operational Expense Control
IndusInd Bank reported a net profit of ₹604.00 crores for the quarter, marking a significant turnaround. The bank's Net Interest Income (NII) was ₹4,640.00 crores, with a Net Interest Margin (NIM) of 3.46%. Total deposits stood at ₹3,97,144.00 crores, while advances were at ₹3,33,694.00 crores. The bank announced cost management initiatives to keep operational expense growth under 10%. IndusInd Bank expects microfinance defaults to normalize by Q3 and reported a resumption of corporate loans in July. The bank's digital app 'INDIE' saw a 2.6 times increase in Monthly Active Users quarter-on-quarter.
28Jul 25
IndusInd Bank Q1 Net Profit Drops 68% to ₹684 Crore, Beats Estimates Amid Asset Quality Concerns
IndusInd Bank reported a 68% year-on-year decline in Q1 net profit to ₹684.00 crore, surpassing analyst expectations. Net Interest Income fell 14% to ₹4,640.00 crore, while provisions increased to ₹1,737.00 crore. Asset quality showed stress with GNPA ratio rising to 3.64%. Despite challenges, the bank maintained a strong capital position with a Capital Adequacy Ratio of 16.63%. Management emphasized focus on profitability, cost discipline, and addressing legacy issues.
28Jul 25
IndusInd Bank CEO Selection Process On Track Amid Turbulent Times
IndusInd Bank is undergoing significant changes, including a CEO selection process, following resignations due to an accounting controversy. The bank has experienced major shifts in its shareholding pattern, with mutual funds reducing stakes while foreign portfolio investors and retail investors increase theirs. Despite recent challenges, including regulatory scrutiny and leadership exodus, the bank reported a net profit in the June quarter. The board has outlined five focus areas to address current issues and improve performance.
27Jul 25
IndusInd Bank Q4 Results: Net Loss of Rs 2,329 Crore Amid Provisioning Pressures
IndusInd Bank posted a consolidated net loss of Rs 2,329 crore in Q4, contrasting with previous profitability. Revenue declined 22.87% year-on-year to Rs 11,342.60 crore. Net Interest Income estimated to fall 22-25% year-on-year. Earnings Per Share dropped to -Rs 29.90 from Rs 30.19 last year. Performance impacted by elevated provisioning, especially in microfinance portfolio. Loan growth expected to contract 3-4% year-on-year, while deposit growth anticipated to remain flat to slightly positive. Operating profit decreased 48.10% year-on-year to Rs 3,863.70 crore.
25Jul 25
IndusInd Bank's CHRO Zubin Mody Resigns After 20-Year Tenure; RBI Approves Extension of Interim Leadership Committee
Zubin Mody, CHRO of IndusInd Bank, has resigned after a 20-year tenure. He will continue until October 24. The bank also received RBI approval to extend its interim Committee of Executives' tenure for one month, from July 29 to August 28, or until a new MD & CEO is appointed.
25Jul 25
IndusInd Bank Faces Multiple Challenges Amid Management Shake-up
IndusInd Bank is facing significant challenges as it prepares to release its April-June quarter results on July 28. Analysts expect a steep decline in earnings due to accounting discrepancies, stress in the microfinance portfolio, and an ongoing CEO search. Additionally, the bank's Chief Human Resources Officer, Zubin Mody, has resigned effective October 24, 2025, after a 20-year tenure. These issues are likely to impact the bank's financial performance and investor confidence.
23Jul 25
IndusInd Bank Approves Rs 30,000 Crore Fundraising Plan Amid Leadership Changes
IndusInd Bank has approved a Rs 30,000 crore fundraising plan, including Rs 20,000 crore through debt securities and Rs 10,000 crore via equity instruments. The bank is also undergoing leadership transitions with Mr. Jayant Deshmukh stepping down as a non-executive independent director. A search for a new CEO is ongoing, with potential candidates including Anup Kumar Saha, Rajiv Anand, and Rahul Shukla. The bank's shares closed 0.95% higher at Rs 851.15 following the announcement. An analyst call is scheduled for July 28, 2025, to discuss Q2 2025 financial results.
23Jul 25
IndusInd Bank Approves Rs 30,000 Crore Fundraising Plan Amid Leadership Changes
IndusInd Bank has approved a Rs 30,000 crore fundraising plan, with Rs 20,000 crore through debt securities and Rs 10,000 crore via equity instruments. The bank is also undergoing leadership changes, with Mr. Jayant Deshmukh stepping down as a non-executive independent director. A search for a new CEO is underway, with candidates including Anup Kumar Saha, Rajiv Anand, and Rahul Shukla under consideration. The bank's shares closed 0.95% higher following these announcements. An analyst call is scheduled for July 28, 2025, to discuss Q2 2025 results, and the 31st AGM is set for August 29, 2025, in Pune.
23Jul 25
IndusInd Bank Board Approves ₹30,000 Crore Fundraising Plan and Reports Quarterly Results
IndusInd Bank's Board has approved a ₹30,000 crore fundraising plan, including ₹20,000 crore through debt securities and ₹10,000 crore via equity instruments. The bank reported a 3.90% decrease in net advances and a 0.30% drop in total deposits in its latest quarterly results. Corporate banking advances declined by 14.40%, while consumer businesses grew by 4.80%. The board also approved changes allowing promoters to nominate up to two directors.
23Jul 25
IndusInd Bank Announces Capital Raising Plans, Board Changes, and Key Decisions
IndusInd Bank has announced significant changes in its board composition and future plans. Jayant Deshmukh has stepped down as Non-Executive Independent Director. The bank's promoters will be able to nominate up to two directors to the board, subject to approvals. The bank plans to raise Rs. 100 billion in capital through various means and Rs. 200 billion through debt securities issuance. An analyst call is scheduled to discuss Q1 financial results, and the 31st AGM will be held in Pune.
21Jul 25
IndusInd Bank Refutes Reports of RBI Directive on CEO Appointment Process
IndusInd Bank has refuted reports of an RBI informal directive regarding its CEO search, calling them false and speculative. The bank affirmed that the appointment process for a new MD and CEO is proceeding as planned. An interim committee is overseeing operations following significant top management departures. The board is set to meet to discuss long-term bonds, capital augmentation, and quarterly results. Three potential CEO candidates are reportedly under consideration. IndusInd Bank's shares were trading at ₹851.90, down 2.10%, with a 12.00% decline over six months.
21Jul 25
IndusInd Bank Refutes Claims of RBI Intervention in CEO Selection Process
IndusInd Bank has firmly denied allegations that the Reserve Bank of India (RBI) instructed its board to expand the search for a new CEO. The bank emphasized that there has been no regulatory intervention in its leadership selection process, contradicting recent reports. This clarification aims to maintain transparency and trust among stakeholders. The CEO selection process appears to be progressing independently under the bank's board management.
19Jul 25
IndusInd Bank Gears Up for Capital Raising and Q1 Results
IndusInd Bank has announced two important board meetings. On July 23, the board will consider proposals for capital raising, including issuing long-term bonds and securities like ADRs, GDRs, and QIPs. On July 28, the board will review Q1 FY24 financial results. The bank's shares closed 1% higher at ₹874.00, showing a 44% recovery from its 52-week low. An earnings call will follow the results announcement, and the trading window for the bank's securities will remain closed from June 26 to July 30.
18Jul 25
IndusInd Bank to Consider Fund Raising and Long-Term Bond Issuance in Upcoming Board Meeting
IndusInd Bank has scheduled a board meeting for July 23, 2025, to discuss fund-raising initiatives and long-term bond issuance. The agenda includes considering private placement of bonds, capital augmentation through ADRs, GDRs, and QIPs, and setting the date for the 31st AGM. This comes after the bank reported a $230 million loss for the fiscal year ended March 31 due to misaccounting issues. The bank is also in the process of selecting a new CEO following recent executive departures. A separate board meeting is scheduled for July 28, 2025, to approve Q1 financial results.
07Jul 25
IndusInd Bank Reports Decline in Advances and Deposits
IndusInd Bank's latest financial update shows a decline in both advances and deposits. Net advances decreased by 3.00% quarter-on-quarter to ₹3.34 lakh crore, while deposits fell by 3.30%. The CASA ratio declined to 31.49%, and Corporate Banking advances dropped significantly by 6.20% quarter-on-quarter. However, the credit-deposit ratio remained stable at 84.20%. The bank's total assets decreased by 3.90% year-on-year, but current assets saw a substantial increase of 460.16%. Investments grew by 7.48%, indicating strategic resource allocation.
04Jul 25
IndusInd Bank: Net Advances Drop 3% Amid Challenging Market Conditions
IndusInd Bank experienced a 3.1% sequential decline in net advances to Rs 3.34 lakh crore. Corporate banking advances fell 14.4% year-over-year and 6.2% quarter-on-quarter. Deposits decreased by 3.3% sequentially to Rs 3.97 lakh crore, with the CASA ratio dropping to 31.49%. The bank reported a net loss of Rs 2,236.00 crore, contrasting with a profit in the previous year. Revenue decreased by 22.83% year-over-year to Rs 11,342.70 crore.
01Jul 25
IndusInd Bank Unveils 'Indie For Business' Platform to Empower 60 Million MSMEs
IndusInd Bank has introduced 'Indie For Business', a digital platform aimed at serving over 60 million Micro, Small, and Medium Enterprises (MSMEs) in India. The platform is designed to offer comprehensive digital banking services tailored for MSMEs, potentially including easy account management, simplified lending processes, digital payment solutions, and financial advisory services. This initiative is expected to improve access to banking services, enhance financial inclusion, increase operational efficiency, and support growth for MSMEs across the country.
28Jun 25
IndusInd Bank Shortlists Three Candidates for MD and CEO Position
IndusInd Bank's board has shortlisted three candidates for the position of Managing Director and CEO: Rajiv Anand from Axis Bank, Rahul Shukla from HDFC Bank, and Anup Saha from Bajaj Finance. This action is in response to the Reserve Bank of India's directive, with a June 30 deadline for submitting recommendations. The selection will significantly impact IndusInd Bank's future strategic direction.
24Jun 25
IndusInd Bank Probes Potential Rs 6,000-7,000 Crore Improper Lending in Microfinance Portfolio
IndusInd Bank is investigating its microfinance loan portfolio for potential improper lending practices. The probe could uncover irregularities of Rs 6,000-7,000 crore. The bank is reviewing microfinance and unsecured loans for possible violations of lending rules. There are indications that additional loans may have been provided to microfinance borrowers to prevent defaults. This investigation could have significant implications for the microfinance sector in India and may attract regulatory attention from the Reserve Bank of India.
19Jun 25
IndusInd Bank Sees Surge in FII Stake Despite Recent Challenges
Foreign portfolio investors (FIIs) have increased their stake in IndusInd Bank to 29.53% from 24.74%, a rise of 4.79 percentage points. This comes despite the bank facing accounting irregularities and leadership changes. The bank's stock is currently trading at Rs 840.00, with a year-to-date performance of -12.20%. The increased FII stake suggests potential value opportunity, confidence in the bank's fundamentals, or anticipation of positive reforms.
19Jun 25
IndusInd Bank Shares Upgraded to 'Buy' by Nomura Amid Governance Improvements
Nomura has upgraded IndusInd Bank from 'Neutral' to 'Buy' with a price target of ₹1,050, citing improved governance and recovery efforts. The bank recently absorbed a ₹5,300 crore hit in the March quarter, addressing legacy issues. This follows earlier challenges including ₹1,979 crore in derivative-related losses and significant leadership changes. Nomura's upgrade reflects confidence in the bank's financial clean-up and future prospects.
16Jun 25
NFRA Scrutinizes IndusInd Bank's Auditors, Issues Notices
The National Financial Reporting Authority (NFRA) has issued notices to the auditors of IndusInd Bank, a major private sector lender in India. This action signals potential concerns over the bank's auditing process. While specific details of the alleged discrepancies or non-compliance have not been disclosed, this development could have significant implications for IndusInd Bank and may lead to increased regulatory attention.
16Jun 25
NFRA Launches Probe into IndusInd Bank Auditors Over Accounting Irregularities
The National Financial Reporting Authority (NFRA) has launched an investigation into IndusInd Bank's current and former auditors, focusing on possible accounting irregularities in the bank's derivatives book. NFRA has requested audit files dating back to 2017, aiming to scrutinize the auditors' role in potentially overlooking or failing to detect accounting issues. The probe could have significant implications for IndusInd Bank, including increased regulatory scrutiny and potential impact on investor confidence.
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