RBI clears IndusInd CEO for 2 more years

MUMBAI: The Reserve Bank of India (RBI) has approved the reappointment of Sumant Kathpalia as MD & CEO of IndusInd Bank for two years from March 24.

The private lender’s board had reappointed Kathpalia as MD & CEO, for three years with effect from March 2023.

Kathpalia has been head of the bank since March 2020 after the retirement of former CEO Romesh Sobti. The RBI’s limiting of his term to another two years would mean that the board would have to a send fresh proposal in 2024.