IndusInd Bank Share: The news we were waiting for has arrived - the new MD and CEO of the bank has been announced:

News Topical, Digital Desk : IndusInd Bank on Monday announced that Rajiv Anand has been appointed as the new Managing Director and CEO of the bank. His term will begin from August 25, 2025 and will last till August 24, 2028. This appointment has been approved by the Reserve Bank of India (RBI), but it is yet to get the approval of the shareholders.

Who is Rajiv Anand-
Anand has previously been the Deputy MD of Axis Bank. There he led Wholesale Banking and Digital Strategy. He has also worked as the founding MD and CEO of Axis Asset Management. He is a commerce graduate and also a chartered accountant.

Why is the new appointment being made Former CEO Sumant Kathpalia resigned in April 2025. He took moral responsibility for the accounting irregularities in the bank. During this time, Deputy CEO Arun Khurana, CFO and CHRO also resigned. Due to these irregularities, the bank suffered a loss of ₹ 2,329 crore in Q4FY25.

Current status of the bank In Q1FY26, the net profit of the bank has fallen by 72% to ₹ 604 crore. Reason: Higher provisions for retail loans and reduction in core and non-core income. Leadership change and future preparations- The bank had formed an executive committee which was looking after the operations, which recently got a one-month extension. Bank chairman Sunil Mehta has said that the leadership change is on track and the bank is looking for internal and external candidates for senior management.

What does it mean- Rajiv Anand's appointment has come at a time when the bank is trying to restore confidence and take corrective steps. The industry hopes that his leadership will lead the bank towards stability again.