IndusInd Bank has dismissed reports suggesting involvement from the Reserve Bank of India in its CEO appointment process. The announcement comes amid management upheavals following accounting discrepancies in Q4, prompting an interim committee setup to ensure continuity in daily operations.
On July 21, 2025, IndusInd Bank publicly denied any informal directive from the RBI regarding its ongoing MD and CEO recruitment process. The bank clarified that the process is on track, including the regulatory approval phase. These comments were issued following recent media speculation around RBI's involvement and ongoing management transitions within the bank.
The bank has been under scrutiny after key members of its leadership team resigned post the discovery of discrepancies during the fourth quarter. To avoid disruptions, IndusInd Bank has established an interim committee entrusted with running daily affairs until a permanent MD and CEO are appointed.
In a stock exchange notification dated July 19, 2025, the bank stated it would convene a board meeting on July 23 to review and approve the issuance of long-term bonds or other permissible debt instruments via private placement. Additionally, capital will be augmented through possible issuance of ADRs, GDRs or QIPs, subject to shareholder and regulatory approval.
Read More: RBI Guideline: No Prepayment Charges on Floating Rate Loans to Individuals from January 1, 2026!
According to CNBC-TV18 report, shortlisted candidates for the top role include Rajiv Anand from Axis Bank, Anup Saha from Bajaj Finance, and Rahul Shukla from HDFC Bank (currently on sabbatical). However, no official confirmation has been released by the bank regarding any final decision.
IndusInd Bank will announce financial results for the April-June quarter on July 28, 2025.
On July 21, 2025, IndusInd Bank share price opened at ₹870.05 on NSE, near the previous close of ₹870.05. During the day, it surged to ₹870.05 and dipped to ₹830.60. The stock closed at ₹858.80 by the end of the day. The stock registered a moderate decline of 1.29%.
Over the past week, it has declined by 2.52%, over the past month, it has moved up by 2.25%, and over the past 3 months, it has moved up by 3.69%.
IndusInd Bank remains firm in its denial of RBI involvement in CEO selection. While it faces top-level leadership gaps and financial scrutiny, transition efforts, including an interim committee and upcoming board meetings, aim to stabilise operations and chart the bank’s growth path.
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Published on: Jul 21, 2025, 4:06 PM IST
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