IndusInd Bank appoints Arijit Basu as part-time chairman

Mumbai, January 31, 2026: IndusInd Bank on Friday said Arijit Basu has been appointed as the part-time chairman of the bank, with effect from January 31, 2026, following the completion of the tenure of Sunil Mehta, who ceased to hold the position on January 30.

In a regulatory filing, the private sector lender said Basu’s appointment will be for a period of three years, up to January 30, 2029, subject to the approval of the bank’s shareholders.

Sunil Mehta stepped down from the role upon completion of his tenure as part-time chairman and director of the bank.

Arijit Basu brings over three decades of experience in the banking and financial services sector. He is a former managing director and board member of State Bank of India and had earlier served as MD & CEO of SBI Life Insurance Company. Prior to his appointment at IndusInd Bank, Basu was also the chairman of HDB Financial Services, a subsidiary of HDFC Bank.

Basu currently serves as an independent director on the boards of several domestic and international companies, including Prudential Plc and CleanMax Enviro Energy Solutions, and acts as a senior advisor to Ares Management Corporation.

The bank said that Basu is not debarred from holding the office of director by any regulatory authority, in line with SEBI guidelines.

IndusInd Bank has informed the National Stock Exchange of India, BSE Limited and the Luxembourg Stock Exchange about the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shares of IndusInd Bank are traded on the NSE under the symbol INDUSINDBK and on the BSE under scrip code 532187.