Who Will Be IndusInd Bank’s Next CEO? Check The 3 Names Sent To RBI

IndusInd Bank has formally submitted a list of three candidates for the role of Chief Executive Officer to the Reserve Bank of India (RBI) for approval, with Axis Bank’s Rajiv Anand emerging as the frontrunner, according to two sources familiar with the matter told Reuters. 

Who Will Be IndusInd Bank’s Next CEO? 
Rajiv Anand, Deputy Managing Director at Axis Bank
Rahul Shukla, Group Head at HDFC Bank (currently on sabbatical)
Anup Saha, Managing Director at Bajaj Finance
The board has proposed a three-year term for the incoming CEO.

“Rajiv Anand’s name has been given as first priority by the board, given his reputation and the experience he brings to the table,” one of the sources told Reuters.
The leadership reshuffle follows a $230 million hit IndusInd Bank incurred in FY24 due to years of misaccounting of internal derivative trades.
 

The incident prompted the abrupt resignations of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana in April.

The RBI, which has the final say in top bank appointments, had asked the bank’s board to submit replacement candidates by June 30.

Who is Rajiv Anand?
Rajiv Anand, a veteran banker with extensive leadership experience at Axis Bank and global financial institutions, is widely seen as a stabilising force.

Who is Rahul Shukla?
Rahul Shukla, with over three decades in banking, was previously a key figure at HDFC Bank and is currently on a sabbatical.

Who is Anup Saha?
Anup Saha, the third candidate, has spent 25 years in the financial services sector and currently leads Bajaj Finance.

RBI’s Approval Now Awaits
IndusInd Bank, RBI, and Anup Saha did not respond to Reuters’ emails seeking comment. Anand and Shukla also did not respond to WhatsApp queries.

IndusInd Bank Share Price Today

IndusInd Bank share price opened today at Rs 861.65, reaching a high of Rs 874.50 and a low of Rs 857.85. At the time of writing this story, the stock is trading at Rs 866.40, showing an increase of 8.65 points or 1.01% from its opening price.

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IndusInd Bank Share Price History 
Over the past decade, the IndusInd Bank share price has seen varied performance trends. It experienced a marginal decline of 0.67%. In contrast, over the last five years, the stock has shown significant growth, rising by 82.49%. However, in the most recent year, it faced a downturn of 40.83%. Over the last six months, the stock decreased by 10.14%, but it rebounded in the last three months with a gain of 33.35%. In the past month, it saw a modest increase of 6.01%, and in the last week, the stock rose by 3.07%.

(With Inputs From Reuters)