IndusInd Bank announced that the Reserve Bank of India (RBI) has approved the reappointment of Sumant Kathpalia as Managing Director and CEO for one more year, from March 24, 2025, to March 23, 2026. This approval follows a proposal made by the bank on September 27, 2024, regarding his tenure extension. The bank had requested a three-year term for Kathpalia, but the RBI approved only a one-year extension. His previous reappointment in 2023 was also for two years, instead of the three years the bank had asked for.
Who is Sumant Kathpalia
– Sumant Kathpalia has played a important role in shaping the bank’s strategy, finances, investor relations, and digital efforts since becoming MD & CEO on March 24, 2020.
– Sumant Kathpalia has over 37 years of experience in major banks like Citibank, Bank of America, and ABN AMRO before joining IndusInd Bank 17 years ago.
– As CEO, he focused on strengthening the bank’s balance sheet, growing retail deposits, ensuring business growth, and boosting investor confidence.