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IndusInd Bank has appointed Rajiv Anand, former deputy managing director of Axis Bank, as its new MD and CEO for three years, according to a regulatory filing. The appointment is effective from August 25, 2025, up to August 24, 2028. “The board of directors, basis approval of the Reserve Bank of India (RBI), have at its meeting held on August 4 approved the appointment of Rajiv Anand as ‘Additional Director' in the category of Managing Director and CEO and Key Managerial Personnel of the bank for three years," IndusInd Bank said in a late evening regulatory filing on Monday, August 4.
Who Is Rajiv Anand, The New MD & CEO Of IndusInd Bank?
IndusInd Bank has appointed Rajiv Anand, former deputy managing director of Axis Bank, as its new MD and CEO for three years, according to a regulatory filing. The appointment is effective from August 25, 2025, up to August 24, 2028.
“The board of directors, basis approval of the Reserve Bank of India (RBI), have at its meeting held on August 4 approved the appointment of Rajiv Anand as ‘Additional Director' in the category of Managing Director and CEO and Key Managerial Personnel of the bank for three years," IndusInd Bank said in a late evening regulatory filing on Monday, August 4.
The appointment is subject to the approval of the shareholders of the bank, it said.
He would assume charge at a time when the bank is reeling under a slew of issues stemming from alleged irregularities of the top management in recognising bad loans and trading reverses.
Last month, the RBI extended the tenure of the committee of executives of the bank for one month as IndusInd Bank expected the regulator's clearance for its new MD and CEO by that time.
The situation arose following the resignation of MD and CEO Sumant Kathpalia in the wake of accounting lapses costing Rs 1,960 crore to the lender in the 2024-25 fiscal year.
The private sector lender in March reported the accounting lapses in the derivative portfolio, estimated to have an adverse impact of approximately 2.35 per cent of the bank's net worth as of December 2024.
The original tenure of the Committee of Executives constituted on April 29 was till July 28, 2025.
Who Is Rajiv Anand?
Rajiv Anand was Deputy Managing Director at Axis Bank, where he retired on August 3 upon completion of his third term as a director on the bank's board.
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In this role, he led the Bank's Wholesale Banking Business and was also responsible for driving the digital agenda of the Bank. He has held key management positions at leading global financial institutions and in Capital Markets & Banking, according to the filing.
He joined Axis Asset Management Co. Ltd. in 2009 as its founding Managing Director & CEO. In his next assignment, he was appointed President of Retail Banking at Axis Bank. Subsequently, he was inducted into the Board of the Axis Bank and took over as the Head of Wholesale Banking. He holds a degree in Commerce and is a qualified Chartered Accountant.
Source: News18
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