[ By Bobby Anthony ]Private lender IndusInd Bank has stated that it has received the Reserve Bank of India’s (RBI) approval for the appointment of Sumant Kathpalia as the bank's MD and CEO for three years after the retirement of the incumbent Romesh Sobti.According to IndusInd Bank, its Nomination & Remuneration Committee and its board had considered as well as submitted the name of a...
Private lender IndusInd Bank has stated that it has received the Reserve Bank of India’s (RBI) approval for the appointment of Sumant Kathpalia as the bank's MD and CEO for three years after the retirement of the incumbent Romesh Sobti.
According to IndusInd Bank, its Nomination & Remuneration Committee and its board had considered as well as submitted the name of a potential candidate for the role of managing director and CEO to the RBI seeking approval for the appointment.
The appointment will come into effect from March 24, 2020.
“We are pleased to advise that the bank has received a communication from the RBI today, approving the appointment of Sumant Kathpalia, who currently heads the bank's Consumer Banking business, as the MD and CEO for three years, with effect from March 24, 2020, after the retirement of Romesh Sobti, the current MD and CEO,” according to an IndusInd Bank statement.
IndusInd Bank commenced operations in 1994. As on December 31, 2019, it had 1,851 branches and 2,721 ATMs spread across 746 geographical locations in the country.