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Crisis-hit IndusInd Bank -resignations, manipulation and loss of 1960Cr, now got a new CEO

Resignations in quick succession... manipulation and loss of ₹1960Cr... this bank caught in crisis has now got a new CEO
10:01 AM Aug 05, 2025 IST | Alka Singh
Resignations in quick succession... manipulation and loss of ₹1960Cr... this bank caught in crisis has now got a new CEO

IndusInd Bank: The tension in the Middle East and Trump Tariff remained in the headlines; there has also been a lot of discussion about the IndusInd Bank Crisis. This bank got caught in a huge crisis due to financial irregularities, resignation of the CEO, then huge losses and share crash. Amidst all this, there was panic among the investors, but now a big news has come regarding this, the effect of which can be seen on the Bank Share. Actually, IndusInd Bank has got a new CEO and the responsibility of rescuing it from the crisis has been given to Rajeev Anand.

IndusInd Bank Share will be in focus on Tuesday. Actually, this bank caught in crisis was working without a full-time CEO for about four months and now the bank has got a new CEO.

Rajiv Anand appointed as new CEO

IndusInd Bank has appointed Rajiv Anand, who has long banking experience, as its new CEO and he has been appointed for three years from 25 August 2025 to 24 August 2028. His selection has been confirmed after getting approval from the Reserve Bank of India (RBI). While Rajiv Anand has recently retired from the post of Deputy Managing Director of Axis Bank and has more than 35 years of experience in asset management, retail and banking sector.

Also Read: Indian Markets Eye Gains Amid Global Jitters; Will Nifty Hold 24,500?

Why is a new appointment being made?

The IndusInd Bank was operating without a full-time CEO for the last four months. Because the bank's former CEO Sumant Kathpalia resigned from his post in April, taking moral responsibility for the loss of Rs 1,959.98 crore related to wrong internal derivative trades. Not only the CEO, but many other top officials including Deputy CEO Arun Khurana also resigned in the case of accounting manipulation. While this created panic among the investors, the impact on the bank's first quarter results was clearly visible. In the first quarter of FY26, the company's net profit registered a huge decline of 72 percent.

IndusInd Bank bank caught in huge crisis due to financial irregularities

The issue of accounting irregularities first came to the fore in IndusInd Bank on March 10, when the bank disclosed that the mark-to-market (MTM) losses in its derivatives book could affect up to 2.35% of its net worth by December 2024 and it could be around Rs 1,600 crore. This crisis arose due to incorrect accounting of internal derivative trade, but it was hidden so that the value of IndusInd Bank Share is not affected and its price keeps increasing. But when the matter came out in the open, there was panic among the investors and the stock kept crashing (IndusInd Bank Stock Crash)

Also Read: Thousands of crores of TCS to LIC sank in 5 days, Reliance made investors happy

Effect can be seen on the stocks market

Now the responsibility to rescue IndusInd Bank from the crisis has been given to Rajiv Anand, so the effect of this news can also be seen on IndusInd Bank Stock on Tuesday. On the last trading day, Monday, it closed with a jump of 2.46 percent at Rs 802.95.

Tags :
bank loss of ₹1960Cr Rajiv Anand new MDbusiness newsCEO of IndusInd BankCrisis-hit IndusInd BankIndusInd Bankresignations in Induslnd bank
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