IndusInd Bank announced on Monday that seasoned banker Rajiv Anand has officially taken charge as its chief executive officer and managing director, according to a filing with the stock exchange.
Anand, whose appointment was confirmed earlier this month, previously served as deputy managing director at Axis Bank. Over the course of his career, he has held pivotal leadership roles at prominent global financial institutions, earning a reputation as a strategic thinker with deep expertise in the banking sector.
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His appointment comes at a turbulent juncture for IndusInd Bank, which reported a $230 million loss in the financial year ending 31 March, following years of misaccounting related to internal derivative trades. The scandal triggered the resignations of then chief executive Sumant Kathpalia and deputy Arun Khurana in April, leaving the lender grappling with reputational and operational challenges.
With Anand at the helm, the bank faces the critical task of restoring confidence among stakeholders and steering itself back towards stability and growth.
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