Markets

IndusInd Bank appoints ex-SBI MD Arijit Basu as chairman after Sunil Mehta steps down

January 23, 2026

IndusInd Bank has appointed Arijit Basu, the former Managing Director of State Bank of India, as its new Chairman following the resignation of Sunil Mehta. This leadership change comes after the bank reported its largest quarterly loss due to a scandal involving its former CEO.

An IndusInd Bank branch in Connaught Place in New Delhi

Credit: Hindustantimes

Key Highlights

Arijit Basu appointed as Chairman of IndusInd Bank effective from 31 January.
Sunil Mehta resigned after three years in the chairman position.
IndusInd Bank reported a record quarterly loss linked to a $230-million scandal.
Basu previously served as Chairman of HDB Financial Services Ltd.
His appointment is subject to shareholder approval.

Business

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

IndusInd Bank appoints ex-SBI MD Arijit Basu as chairman after Sunil Mehta steps down

Key Highlights

Sources

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