On March 10, IndusInd Bank announced that the Reserve Bank of India (RBI) had confirmed Sumant Kathpalia’s reappointment as managing director and chief executive officer.
Kathpalia’s reappointment will be effective March 24, 2023, for a two-year term, according to a regulatory filing by the lender.
The RBI’s approval comes almost six months after IndusInd Bank’s board of directors approved another term for Kathpalia, who has been the lender’s MD and CEO since March 2020.
Kathpalia is a career banker with over three decades of expertise. Previously, he worked for big national and international firms such as Citibank, Bank of America, and ABN AMRO.
He started working for IndusInd Bank 15 years ago. He has served on the lender’s top-level executive committee, where he was responsible for financial management, investor relations, and analyzing inorganic development options.
“In his prior role as Head – Consumer Bank at IndusInd Bank, Kathpalia has been instrumental in setting up several new businesses from scratch to cater to the needs of individual and SME segments,” the bank said, further crediting him for “revitalising and re-energising the business models leveraging decision, sciences and digitisation to redefine client experience and to scale with efficiency”.