By Admin 
Indusind bank shares: Today IndusInd Bank shares will be in the focus of investors as the bank took a big decision late on Monday night and chose Rajiv Anand as his new MD and CEO. Due to this, the bank shares are likely to rise today. IndusInd Bank said in its exchange filing that Rajiv Anand’s term will start from 25 August 2025 and will remain till August 24, 2028. That is, he will take over the reins of the bank’s functioning for three years. Earlier, Rajiv Axis was the deputy MD in Axis Bank, where he saw the functioning of wholesale banking business and digital agenda.
Why was this appointment necessary?
This appointment is very important because IndusInd Bank is running without MD and CEO after Sumant Kathpalia resigned from his post in April this year. Sumant had announced this, taking the moral responsibility of the derivative portfolio accounting issue, due to which there was a huge decline in the bank shares. However, now the stocks have recovered from that level.
The bank suffered a huge loss of Rs 1960 crore due to wrong accounts of derivative transactions inside the bank. The bank incurred a loss of 2328.87 crore in the January-March 2025 quarter, which was the first time in the last 20 years.
Who was handling the work till now?
After Sumant’s resignation, the bank was being handled by a committee of senior officials, including Soumitra Sen, Head of Consumer Banking and Chief Administrative Officer Anil Rao. Here, Rajiv Anand has retired from the post of Managing Director of Axis Bank on 3 August. Now after getting approval from the Reserve Bank of India (RBI), the appointment of Rajiv Anand has been approved.
Rajiv has 35 years experience
59 years Rajiv Anand is a chartered accountant who has more than 35 years of experience in asset management, retail banking and wholesale banking. He was associated with Axis Group in 2009 as Founding Managing Director of Axis Asset Management Company. In 2013, he joined Axis Bank as the President of Retail Banking and later took over the job of wholesale banking division in 2018.
IndusInd Bank shares
IndusInd Bank shares closed at 803 with a 2.5 percent lead on Monday. The stock has come up from its 52-week lower level 606 to 33 percent, which fell after the issue of lapses in derivative accounting earlier this year. Global brokerage firm Jeferies has given IndusInd Bank ‘buy’ rating with a target price of 920, which shows a possible increase of 17 percent from the current level.
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