Sunday, 1 Jun 2025
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Subscribe
Brinks Report
  • Featured
  • Money Matters
  • Business
  • IPL
  • Technology
  • Automobile
  • Entertainment
  • Sports
  • More
    • People
    • World
    • Health and Wellness
    • Horoscope
  • Today’s News
  • 🔥
  • World
  • Business
  • Economy
  • Technology
  • Automobile
  • IPL
  • People
  • Sports
  • IPL 2025
  • Entertainment
Font ResizerAa
Brinks ReportBrinks Report
Search
  • Featured
  • Money Matters
  • Business
  • IPL
  • Technology
  • Automobile
  • Entertainment
  • Sports
  • More
    • People
    • World
    • Health and Wellness
    • Horoscope
  • Today’s News
Have an existing account? Sign In
Follow US
© 2024-2025 Brinks Report. All content, including text, images, and other media, is copyrighted.
Brinks Report > Blog > Economy > Shocking Exit! IndusInd Bank CEO Quits Amid Crisis — RBI Rushes to Appoint Emergency Team
Economy

Shocking Exit! IndusInd Bank CEO Quits Amid Crisis — RBI Rushes to Appoint Emergency Team

Ankita Das
Last updated: May 1, 2025 8:26 am
Ankita Das
Share
Indusind bank ceo resignation
SHARE
Trulli

The Reserve Bank of India (RBI) has approved an interim team to manage IndusInd Bank after the sudden resignation of its Managing Director and CEO, Sumant Kathpalia. The bank shared this news in an official statement on Wednesday.

A temporary “Committee of Executives” has been formed to handle the bank’s day-to-day operations. This committee includes Soumitra Sen, Head of Consumer Banking, and Anil Rao, Chief Administrative Officer. They will work under the guidance of an Oversight Committee of the Board, which will be led by the Chairman of the Board and include heads of the Audit, Compensation, and Risk Management Committees.

Trulli

Read More: IndusInd Bank Shares Drop: CEO Resigns Amidst a Scandal That Could Shake Your Trust

The RBI approved this arrangement in a letter dated April 29, 2025. It will continue until a new MD & CEO is appointed or for up to three months from the date the previous CEO stepped down—whichever happens first.

IndusInd Bank said it asked the RBI for this temporary setup to ensure smooth functioning and proper governance after Kathpalia’s exit.

“The Bank is taking all necessary steps to maintain stability and high governance standards,” the statement added.

Why Did the CEO Resign?

Sumant Kathpalia resigned on Tuesday, just a day after his deputy, Arun Khurana, also stepped down. In his resignation letter, Kathpalia said he was taking “moral responsibility” for problems linked to a derivatives-related issue.

Read More: RBI Predicts 6.5% Growth for Indian Economy, Urges US Companies to Invest

The issue involves losses from the early termination of derivatives contracts. These were reportedly recorded in a way that wrongly showed profits and misled stakeholders about the bank’s actual financial condition.

Kathpalia, who became CEO in March 2020, admitted that the RBI was not fully confident in his leadership. In a recent call with analysts, he said,

“I think they’re uncomfortable with my leadership… This is a test for the bank and for our succession planning.”

Although he led the bank to significant growth—growing its balance sheet from ₹4.24 lakh crore in March 2020 to ₹5.43 lakh crore by December 2024—his time as CEO also saw several regulatory issues. These included:

  • RBI penalties for not following KYC rules
  • Incorrect interest payments on deposits
  • Unauthorized loans given without customer permission

Despite being given a one-year extension in 2024, the RBI had already shortened his term twice in the past.

 

Image Slider
Image 1 Image 2 Image 3
TAGGED:Banking NewsCEO Resignationcorporate governanceDerivatives CrisisIndusInd BankRBI
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
What do you think?
Love0
Sad0
Happy0
Joy0
Sleepy0
Angry0
Surprise0
Previous Article Renault boreal 7-seater suv Meet Renault Boreal – The 7-Seater SUV Revealed! Find Out What’s Inside!
Next Article Supreme universal sells rs 174 crore sea-facing duplex To whom did Supreme Universal just sell a Rs 174 crore sea-facing duplex? See the surprising buyer!
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Your Trusted Source for Accurate and Timely Updates!

Brink’s Report delivers fresh, unbiased, and engaging content across politics, business, tech, entertainment, and more. From breaking news to deep dives, we keep you informed—and intrigued—with accurate reporting and diverse perspectives. Explore the world, one story at a time.
FacebookLike
XFollow
RSS FeedFollow
Ad image

You Might Also Like

India gdp growth
Economy

India GDP Growth Jumps to 6.7%—Rural Demand in Driver’s Seat

By
Dolon Mondal
Ircon wins ₹254 cr railway safety project, shares rise 1. 54%
Economy

IRCON International Shares Rise 1.54% After Winning ₹254 Crore Railway Safety Project

By
Ankita Das
Irfc’s strategic shift: diversifying for better margins and growth
BusinessEconomy

IRFC’s Strategic Shift: Diversifying for Better Margins and Growth

By
Dolon Mondal
Indian stock market surges: sensex jumps 550 points,
Economy

Indian Stock Markets Surge: Sensex Jumps 550 Points, Nifty Crosses 23,350

By
Ankita Das
Ad image

About US


Brink’s Report delivers fresh, unbiased, and engaging content across politics, business, tech, entertainment, and more. From breaking news to deep dives, we keep you informed—and intrigued—with accurate reporting and diverse perspectives. Explore the world, one story at a time.

Top Categories
  • World
  • Business
  • Economy
  • Technology
Usefull Links
  • Contact Us
  • About Us
  • Privacy Policy
  • DMCA

© 2024-2025 Brinks Report. All content, including text, images, and other media, is copyrighted.