IndusInd Bank announced the formation of a “Committee of Executives” following the resignation of its Managing Director and CEO, Mr. Sumant Kathpalia. The Reserve Bank of India (RBI), via letter DoR.gov.no.776/08.87.001/2025-26, approved this interim arrangement.
The committee includes Mr. Soumitra Sen, Head – Consumer Banking, and Mr. Anil Rao, Chief Administrative Officer. This committee will oversee the bank’s operations until a new MD & CEO is appointed or for a maximum of three months from the date of Mr. Kathpalia’s departure, whichever is earlier. The operations of the committee will be supervised by an Oversight Committee of the Board, chaired by the Board Chairman and including the heads of key board committees—Audit, Compensation and Nomination & Remuneration, and Risk Management.
This move is in line with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and ensures the continuation of the bank’s functions without disruption.
Mr. Sen brings over three decades of experience in consumer banking, while Mr. Rao has led technology-driven operational improvements over a similar tenure. Both have previously worked with institutions like Bank of America, ABN AMRO, and RBS before joining IndusInd Bank.
The bank assures stakeholders that it is taking all necessary measures to maintain stability and governance during this transitional period.
