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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Indusind bank: On May 16, 2025, everyone will have a special eye on the stock of IndusInd Bank in Mumbai of private sector and it can be seen today during business. The reason for this is that irregularities have been detected during the bank’s audit. IndusInd Bank has reported in the information on the stock market on Thursday that during the investigation of Microfinance Trade by its internal audit department, 674 crore rupees were accidentally shown in interest in three quarters of Financial Year 2025. But this mistake was rectified on 10 January 2025.

May 10, after giving information about this to the stock exchange from the bank, its shares saw a big decline in a day of 27 percent. Significantly, the matter has come to light when the bank’s MD and CEO Sumant Kathpalia and Deputy CEO Arun Khurana resigned due to the derivatives portfolio controversy.

IndusInd Bank audit report revealed disturbances

The roles of prominent employees have also been investigated in this regard. Back said that after receiving complaints of whistleblower about this, the audit committee of the board had asked the internal audit department to review the transactions registered in ‘other assets’ and ‘other liabilities’.

This was in addition to review of the micro finance business of the bank, whose information was given by the lender to the stock markets on 22 April. The bank said that the ‘Internal Audit Department has submitted its report on 8 May 2025, according to which, the bank’s’ other assets’ accounts had an amount without documentary proof of up to Rs 595 crore.

Bank told the stock market

It was adjusted with the same amount seen in ‘other liabilities’ accounts in January 2025. IndusInd Bank said that the Audit Department has also investigated the roles and works of prominent employees in this context. Earlier on April 22, the bank had said that as part of the process of finalizing the accounts, the bank’s audit department is reviewing the bank’s MFI business to investigate some concerns and the help of EY is also being taken in it.

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