IndusInd Bank Announces Appointment of Mr. Arijit Basu as New Chairman
Mumbai, January 23, 2026 – IndusInd Bank Limited has announced a significant leadership transition at the helm of its Board. Mr. Sunil Mehta will complete his tenure and step down as the Part-time Chairman and Director of the Bank effective January 30, 2026.
A New Chapter Begins with Mr. Arijit Basu
The Bank's Board of Directors, in its meeting held today, approved the appointment of Mr. Arijit Basu (DIN: 06907779) as an ‘Additional Director’ in the category of Non-Executive Independent Director and Part-Time Chairman. This appointment, made with the approval of the Reserve Bank of India (RBI), is effective from January 31, 2026, for a period of three years, subject to shareholder approval.
The Board placed on record its deepest appreciation for Mr. Sunil Mehta's valuable contributions, steadfast leadership, and unwavering support in steering the Bank.
Profile of the Incoming Chairman: Mr. Arijit Basu
Mr. Arijit Basu is a seasoned banking professional with a distinguished career:
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He retired as a Board Member and Managing Director of State Bank of India (SBI).
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Previously served as the MD & CEO of SBI Life Insurance Company Ltd..
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Prior to this appointment, he was the Chairman of the Board of HDB Financial Services Ltd., a subsidiary of HDFC Bank.
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He currently serves as an Independent Director on the boards of Prudential Plc, Peerless Hospitex, and CleanMax Enviro Energy Solutions Ltd., among other advisory roles.
He holds a master’s degree from the University of Delhi and is a Certified Associate of the Indian Institute of Bankers.
Regulatory Compliance
This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed information is available on the Bank's website.