IndusInd Bank chairman resigns

bangalore: chairman of private sector indusind bank arjun g. asrani has resigned from his post but will continue in an advisory capacity on the board of directors. sources told the times of india that asrani, whose term as chairman expired some days ago, was not given an extension at the board meeting held then. his successor has not yet been decided upon.asrani is from the family of one of the shareholders of indusind bank and was an indian foreign service officer who has also served, among other posts, as india's ambassador to japan. the two major shareholders of the bank are indusind international holdings ltd and the india-based indusind enterprises and finance ltd. indusind was the first private sector bank to be set up in the post-liberalisation era and has declared assets of around $1.8 billion. the bank had earlier announced a branch expansion drive and has set a target of 100 branches all-india by the end of march and close to 30 offsite atms. the bank is investing rs 50 crore on technological upgradations.