IndusInd Bank has named Rajiv Anand as its new Managing Director and Chief Executive Officer, effective August 25, 2025. The appointment, approved by the bank’s board, will run for three years until August 24, 2028, subject to shareholder approval at the upcoming general meeting.

In a regulatory filing on Monday, the private sector lender confirmed Anand’s designation as an ‘Additional Director’ in the MD & CEO category.

Leadership Experience Across Banking Sectors

Anand brings a wealth of experience from his tenure at Axis Bank, where he most recently served as Deputy Managing Director and led the Wholesale Banking division. Over his career, he has held senior leadership roles across asset management, retail banking, and corporate banking.

He began his journey with Axis Asset Management Co. Ltd. in 2009 as the founding MD & CEO and later transitioned into Axis Bank’s retail banking arm as President of Retail Banking. He was subsequently inducted into the Axis Bank board and went on to head Wholesale Banking operations.

Anand holds a degree in commerce and is a qualified Chartered Accountant.

IndusInd’s CEO Transition

His appointment follows the retirement of Sumant Kathpalia, the bank’s former CEO, who recently made headlines for proposing a settlement in an insider trading case.

IndusInd Bank Chairman Sunil Mehta had previously stated during the Q1 FY26 investor call that the bank was focused on strengthening its top management by attracting high-quality leadership. Anand was long speculated to be a frontrunner for the role, especially after Axis Bank announced his exit from the Deputy MD position, effective August 3, upon completion of his third board term.

Image Source: Google
Image Credit: Respective Owner