Who Is Rajiv Anand, The New MD & CEO Of IndusInd Bank?
IndusInd Bank has named Rajiv Anand, former Deputy Managing Director of Axis Bank, as its new Managing Director and Chief Executive Officer for a term of three years.
As per a regulatory submission, IndusInd Bank has appointed Rajiv Anand as the MD and CEO for a tenure starting from August 25, 2025, and ending on August 24, 2028.
“The board of directors, based on the approval of the Reserve Bank of India (RBI), has at its meeting held on August 4, approved the appointment of Rajiv Anand as an ‘Additional Director’ in the category of Managing Director and CEO and Key Managerial Personnel of the bank for three years,” the bank said in a late-night regulatory filing on Monday, August 4.
The appointment is, however, subject to approval from the shareholders of the bank, it further stated.
He will be taking charge at a time when IndusInd Bank is facing multiple challenges linked to alleged irregularities by senior management in the recognition of non-performing assets (NPAs) and trading-related losses.
Just last month, the RBI extended the tenure of the Committee of Executives of the bank by another month, as IndusInd Bank was expecting the regulator’s nod for its new MD and CEO within that period.
The need for this committee arose after the resignation of former MD and CEO Sumant Kathpalia, following reports of accounting discrepancies that led to losses of ₹1,960 crore for the lender during the 2024–25 financial year.
In March, the private bank disclosed accounting lapses in its derivative trading portfolio, which were estimated to have a negative impact of around 2.35% on the bank’s net worth as of December 2024.
The initial tenure of the Committee of Executives, formed on April 29, was up to July 28, 2025.
Who Is Rajiv Anand?
Rajiv Anand previously served as the Deputy Managing Director at Axis Bank, from where he stepped down on August 3, marking the end of his third term as a Board Director at the bank.
In this role, he headed the Wholesale Banking Division of the bank and was also tasked with spearheading the bank’s digital initiatives. According to the regulatory filing, he has held important leadership roles across prominent international financial institutions and possesses experience in Capital Markets and Banking.
Anand began his association with Axis Group in 2009, taking charge as the founding Managing Director and CEO of Axis Asset Management Co. Ltd.. Later, he was appointed President of Retail Banking at Axis Bank, and then elevated to the bank’s Board, where he led the Wholesale Banking business.
He holds a Bachelor’s degree in Commerce and is a qualified Chartered Accountant.
