RBI re-appointed Sumant Kathpalia as CEO & MD of IndusInd Bank

11 Mar 2023 , 03:39 PM

Indusind Bank said on Friday, March 10 that RBI has re-appointed Sumant Kathpalia as CEO & MD of the bank for next two years. 

The bank said in its regulatory filing, “Reserve Bank of India vide its letter dated March 10, 2023 has conveyed its approval for re-appointment of Mr Sumant Kathpalia as Managing Director & CEO of the bank for a further period of 2 years with effect from March 24, 2023”

Kathpalia is head of the bank since March 2020 post the retirement of Romesh Sobti former CEO.

Kathpalia had earlier worked in Citibank, Bank of America and ABN AMRO, before joining IndusInd Bank. He has led various roles in the past 30 years. He has been a key member of the top-level executive committee looking at bank-wide financial management, managing investor relations and evaluating inorganic growth opportunities.

The bank said, ‘In his prior role as Head – Consumer Bank at IndusInd Bank, Kathpalia has been instrumental in setting up several new businesses from scratch to cater to the needs of individual and SME segments,’ further crediting him for ‘revitalising and re-energising the business models leveraging decision, sciences and digitisation to redefine client experience and to scale with efficiency’.