Synopsis: IndusInd Bank shares rose after the RBI approved Rajiv Anand's appointment as Managing Director and CEO for a 3-year term. His leadership brings renewed optimism following the bank’s recent ?2,000 crore accounting lapse.
Rajiv Anand Named IndusInd Bank CEO: Shares Surge After RBI Nod Amidst Recovery Efforts
In a move that boosted investor confidence, IndusInd Bank's shares gained on Tuesday following the Reserve Bank of India’s (RBI) approval of Rajiv Anand as the bank’s new Managing Director and CEO. His appointment comes at a crucial time for the private lender, which recently faced a ?2,000 crore accounting oversight, rattling stakeholders and denting its market reputation.
Anand’s three-year term will officially begin on August 25, 2025, pending shareholder approval at the bank’s upcoming general meeting. With over 35 years of experience across diverse roles in the banking and financial services industry, Anand was most recently serving as the Deputy Managing Director at Axis Bank.
Announcing the development, the Board of Directors at IndusInd Bank expressed confidence in Anand’s ability to steer the bank towards strong and sustainable growth, while ensuring high governance standards. “We look forward to working closely with Rajiv and strengthening the bank’s future,” said Sunil Mehta, Chairman of the Board.
Anand's appointment is also seen as a strategic response to concerns voiced by investors about the potential appointment of a public sector veteran. The choice of a seasoned private banker has been received positively by the markets.
The timing is critical for IndusInd, which reported a net loss of ?2,328 crore in the January–March 2025 quarter. Stress in its microfinance portfolio and accounting lapses had eroded investor trust, leading to calls for stronger leadership and structural reform.
Analysts suggest that Rajiv Anand’s global and institutional expertise will be essential in navigating the bank through its recovery and future growth.
Disclaimer: This article is intended for informational purposes only. It does not constitute financial advice or endorsement. Readers should consult financial professionals before making investment decisions.
