IndusInd Bank informed that the Reserve Bank of India (RBl) has approved the appointment of Sumant Kathpalia as the MD & CEO for 3 years, with effect from 24 March 2020.
Sumant Kathpalia currently heads the bank's consumer banking business.
On October 31, the private lender had informed that pursuant to the recommendation of the nomination and remuneration committee (NRC), the board of directors of the bank, at its meeting held on 30 October 2019 had finalized a potential candidate for the position of MD & CEO.
As mandated under the extant RBI norms, the Bank had submitted an application to the RBI, seeking approval for the appointment of the new MD & CEO of the bank.
Share of the private bank fell 2.01% to Rs 1093.15.
IndusInd Bank provides a range of banking and financial services including wholesale banking, credit monitoring, risk management, tele-banking, investment banking and commercial lending.
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