Mumbai, April 30 -- The move comes as the bank grapples with an ongoing probe into accounting discrepancies in its derivatives portfolio.

Kathpalia's exit, effective immediately, brings to a close his five-year tenure at the helm of the bank.

Deputy CEO and whole-time director Arun Khurana had also resigned a day earlier, citing the adverse accounting impact on the bank's profit and loss due to "incorrect accounting for internal derivative trades." Khurana had previously held oversight of the bank's treasury front office, a key function tied to the issue.

The leadership exits come after a series of senior-level changes in the bank's finance division. Khurana had been promoted to chief financial officer in January, following the resigna...