IndusInd Bank Sends CEO Candidates Shortlist To RBI Following Top-Level Exits
IndusInd Bank has submitted a shortlist of three senior banking executives to the RBI for the role of Chief Executive Officer
IndusInd Bank Shares: IndusInd Bank has submitted a shortlist of three senior banking executives to the Reserve Bank of India (RBI) for the role of Chief Executive Officer (CEO), according to a Reuters report citing sources familiar with the matter.
The shortlisted candidates are Rajiv Anand, Rahul Shukla, and Anup Saha — all of whom bring decades of financial sector experience. This development follows the sudden departures of CEO Sumant Kathpalia and Deputy CEO Arun Khurana in April, after the bank suffered a $230 million setback due to years of internal misreporting in derivative trades.
The RBI, which has the final authority on top-level appointments in Indian banks, had instructed IndusInd Bank to submit the list of successors by June 30. The bank's board has reportedly proposed a three-year term for the new CEO.
Among the names, Rajiv Anand — currently the Deputy Managing Director at Axis Bank — is seen as the frontrunner, owing to his extensive experience across both domestic and global financial institutions.
Rahul Shukla, formerly Group Head at HDFC Bank, is currently on sabbatical and has over 30 years of industry experience. Anup Saha, the Managing Director at Bajaj Finance, also brings over 25 years of experience in the financial services space.
'Rajiv Anand's name has been given as the first priority by the board, given his reputation and the experience he brings to the table," said one of the sources.
At 12:35 PM on Monday, shares of IndusInd Bank were trading up 1%. However, the stock has lost over 10% in value so far in 2025.
First Published:
June 30, 2025, 14:16 IST
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