RBI approves one-year extension of Sumant Kathpalia as IndusInd Bank CEO

Private sector lender IndusInd Bank Ltd said the Reserve Bank of India (RBI) has approved the reappointment of Sumant Kathpalia as the Managing Director and CEO of the bank for another year, effective from March 24, 2025, to March 23, 2026.

"Further to our letter dated September 27, 2024, we hereby inform you that the Reserve Bank of India, vide its letter dated March 6, 2025, has conveyed its approval for the reappointment of Sumant Kathpalia (DIN: 01054434) as Managing Director & CEO of the Bank for a further period of one year with effect from March 24, 2025, till March 23, 2026," Indusind Bank said in a regulatory filing. The approval follows IndusInd Bank’s earlier communication on September 27, 2024, regarding the proposal for his tenure extension. The reappointment remains subject to shareholder approval.

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Kathpalia is a career banker with over 37 years of rich experience in large multinational banks such as Citibank, Bank of America, and ABN AMRO before joining IndusInd Bank.

At IndusInd Bank, Kathpalia has been part of the core leadership team, joined the bank 17 years ago, and has been pivotal in turning the bank around.

Shares of IndusInd Bank Ltd ended at Rs 936.80, down by Rs 34.25, or 3.53%, on the BSE.