News

RBI Grants One-Year Extension to Sumant Kathpalia as CEO of IndusInd Bank.

Appointment | Dated: 10 Mar 2025

In March 2025, the Reserve Bank of India (RBI) granted a one-year extension to Sumant Kathpalia, Managing Director (MD) and Chief Executive Officer (CEO) of IndusInd Bank, based in Mumbai, Maharashtra, effective from March 24, 2025, to March 23, 2026.

🎯 Key Highlights:

- The approval follows IndusInd Bank's letter on September 27, 2024, addressing the proposal for extending his tenure. The reappointment is subject to shareholder approval.
- In September 2022, the bank's board had approved his reappointment for three years, effective March 24, 2023, but RBI sanctioned only a two-year term. In September 2024, the board sought a three-year extension, from March 24, 2025, to March 23, 2028, but RBI has approved only a one-year extension.

💡 Other Important Facts:

(i) Sumant Kathpalia has 37 years of experience in the banking sector and has been with IndusInd Bank for 17 years.
(ii) He also has working experience with international banks such as Algemene Bank Nederland (ABN AMRO) Bank, Bank of America, and Citibank.

📚 Test Your Knowledge:

Who was recently granted a one-year extension as the CEO of IndusInd Bank by the RBI?

Correct Answer: Sumant Kathpalia

🚀 Quick Recap:

About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai