New Delhi, April 30 -- Sumant Kathpalia stepped down as IndusInd Bank's managing director and chief executive on 29 April 2025 amid investigations into accounting discrepancies in the bank's derivatives portfolio.
His resignation came a day after executive director and deputy CEO Arun Khurana, also involved in the probe, resigned.
IndusInd Bank is the latest private sector lender to witness a senior leadership crisis, following Yes Bank, RBL Bank, Lakshmi Vilas Bank, and Tamilnad Mercantile Bank in recent years.
Mint explains how the IndusInd changeover might be different from management changes seen at other banks, especially those involving the Reserve Bank of India.
The bank's board has driven the management change at IndusInd Bank...
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