Who is the new Chairman of IndusInd Bank?

Arijit Basu, former Managing Director of the State Bank of India, has been appointed as the new Chairman of IndusInd Bank.

Why did Sunil Mehta resign from IndusInd Bank?

Sunil Mehta resigned as Chairman of IndusInd Bank after serving his three-year term.

What issues has IndusInd Bank faced recently?

IndusInd Bank faced investor criticism for inadequate oversight and delays in disclosing accounting lapses in its derivative portfolio.

Home / Business and Economy / IndusInd Bank Appoints Ex-SBI MD Arijit Basu as New Chairman

IndusInd Bank Appoints Ex-SBI MD Arijit Basu as New Chairman

23 Jan

•

Summary

Arijit Basu, former SBI MD, appointed as IndusInd Bank Chairman.
Basu's three-year term as Chairman begins January 31, 2026.
IndusInd Bank faced criticism over accounting lapses in derivatives.

IndusInd Bank Appoints Ex-SBI MD Arijit Basu as New Chairman

IndusInd Bank announced the appointment of Arijit Basu as its new Chairman on Friday, January 23, 2026. Basu, formerly the Managing Director of the State Bank of India, will commence his three-year term on January 31, 2026, pending shareholder approval.

He succeeds Sunil Mehta, who is stepping down after completing his tenure. Basu brings extensive experience from his previous roles, including Chairman of HDB Financial Services and MD and CEO of SBI Life Insurance Company. He currently serves on several boards and as a senior advisor to financial firms.

The appointment comes as IndusInd Bank has been under scrutiny from investors. The bank's board has faced criticism for insufficient oversight and delayed disclosures concerning accounting irregularities in its derivative portfolio. These issues have had a negative financial impact, contributing to a 10% drop in IndusInd Bank's shares in 2025, making it the worst performer in the Nifty private bank index.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.