Mumbai: On August 25, 2025, Rajiv Anand officially took charge as the Managing Director and CEO of IndusInd Bank, backed by the board and pending shareholders’ approval. His appointment spans three years, reflecting the bank’s push for stability after leadership turmoil earlier this year.
Bringing in a Banking Veteran
Anand arrives with over 35 years of experience in banking. He stepped down as Deputy Managing Director at Axis Bank in August and previously held leadership roles in both retail and wholesale banking—along with founding Axis Asset Management in 2009. He is also a Chartered Accountant with a commerce degree.
Fixing a Rs 2,000 Crore Accounting Scandal
His takeover comes at a critical time: the bank had posted a staggering Rs 1,960 crore loss due to years of misaccounted internal derivative trades. This scandal led to the resignation of the former CEO and deputy CEO in April, and the bank was managed temporarily by an executive committee under RBI oversight. Anand’s role now includes restoring internal controls, rebuilding trust, and guiding financial recovery.
Interim Structure Dissolved
With Anand’s arrival, the bank has formally dissolved the interim executive committee and the oversight framework that had been guiding operations since April. This marks a return to structured leadership and centralized governance.
Market Reacts Positively
Investors showed confidence in this leadership move: following the appointment announcement, IndusInd Bank shares rose sharply, up over 4 percent and outperforming the market. The move signaled strong hopes for better governance and faster recovery.
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