IndusInd Bank appoints Rajiv Anand as CEO following financial mismanagement.

Rajiv Anand has taken charge as IndusInd Bank's CEO and MD. Anand previously held key management positions at Axis Bank and global financial institutions. He succeeds Sumant Kathpalia and Arun Khurana, who resigned in April after the bank took a $230 million hit due to misaccounting of internal derivative trades.

Veteran banker Rajiv Anand has assumed the role of Chief Executive Officer (CEO) and Managing Director (MD) at IndusInd Bank (INBK.NS), following the resignation of Sumant Kathpalia and Arun Khurana earlier this year. Anand's appointment was announced on August 25, 2025, and was previously reported by Reuters [1].

Anand brings extensive experience to the position, having held key management roles at leading global financial institutions and most recently serving as the deputy managing director at Axis Bank (AXBK.NS) [1]. His appointment comes amidst significant challenges for IndusInd Bank, which faced a $230 million hit in the year ended March 31 due to misaccounting of internal derivative trades [1].

The misaccounting scandal prompted the resignations of Kathpalia and Khurana in April, leading to a period of uncertainty for the bank. Anand's appointment signals a commitment to addressing the bank's issues and restoring investor confidence.

IndusInd Bank has been actively working to rectify the misaccounting errors and strengthen its financial position. The appointment of Anand, known for his strategic acumen and leadership skills, is seen as a step towards stabilizing the bank and positioning it for future growth.

As Anand takes the helm, investors and financial professionals will be closely watching his leadership to assess the bank's ability to navigate through the challenges and return to profitability.

References:
[1] https://www.reuters.com/sustainability/boards-policy-regulation/veteran-banker-rajiv-anand-takes-charge-ceo-indias-indusind-bank-2025-08-25/