IndusInd Bank shares fell over 2% in early trading on Wednesday following the resignation of Managing Director and CEO Sumant Kathpalia. His exit came just a day after Deputy CEO Arun Khurana resigned. As of 9:15 AM, the shares were trading 2.35% lower at Rs 817.25.
The resignations are reportedly linked to discrepancies found in the bank’s derivatives portfolio, which has prompted heightened scrutiny from both regulators and stakeholders.
In response, the Reserve Bank of India (RBI) has stepped in to maintain stability and restore confidence. The central bank has approved the formation of an internal executive committee to manage the bank’s day-to-day operations. This committee will include Soumitra Sen, Head of Consumer Banking, and Anil Rao, Chief Administrative Officer. Their operations will be conducted under the guidance of an oversight committee established by the board of IndusInd Bank.
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