RBI Approves Sumant Kathpalia As IndusInd Bank CEO For Another Year, Albeit The Board Sought Three Years

The Reserve Bank of India has approved the re-appointment of Sumant Kathpalia as managing director and chief executive officer of the bank for one year with effect from March 24, 2025 till March 23, 2026, the bank said in an exchange filing. This is subject to shareholders' approval.

IndusInd Bank had sought Kathpalia's approval for this position for a period of three years. This is the second time that the RBI has approved his extension by a shorter term than one sought. In 2023, the regulator cleared only a two year term for Kathpalia.

Kathpalia has been serving as the MD and CEO of the bank since March 24, 2020. He led the core executive team of the bank and has been working with them for over 17 years.

He has had over 37 years of experience in large multinational banks such as Citibank, Bank of America and ABN AMRO before joining IndusInd Bank.