IndusInd Bank appoints Sumant Kathpalia as new MD & CEO

PTI, Feb 28, 2020, 11:59 AM IST

New Delhi: IndusInd Bank on Thursday, February 27 said it has elevated the bank’s head for consumer banking Sumant Kathpalia as the new managing director and chief executive.

As previously advised to the exchanges, the bank’s nomination and remuneration committee and the board had considered and submitted the name of a potential candidate for the role of MD and CEO, to the Reserve Bank of India (RBI), seeking approval for the appointment, it said in a release.

“The bank has received a communication from the RBI today, approving the appointment of Sumant Kathpalia, who currently heads the Bank’s Consumer Banking business, as the MD and CEO for 3 years, with effect from March 24, 2020, post the retirement of Romesh Sobti, the current MD and CEO,” it said.