IndusInd Bank Limited disclosed regulatory approval received from the Reserve Bank of India (RBI) for the appointment of two Executive Directors. This disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and references SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Key Dates and Terms

  • Board Approval Date: April 24, 2026 (previously disclosed)
  • RBI Approval Date: August 4, 2026 (via letter dated August 4, 2026)
  • Appointment Effective Date: August 4, 2026
  • Term Duration: Three years, ending August 3, 2029 (both days inclusive)
  • Redesignation Period: Both individuals were redesignated as Executive Director Designate from April 24, 2026, until their appointments as Executive Directors took effect

Remuneration and Approvals

The remuneration for both Executive Directors is subject to RBI approval. The appointments remain subject to approval by the Shareholders of the Bank.

Director Background and Experience

Mr. Ganesh Sankaran: Seasoned banking leader with over three decades of experience across Wholesale, Retail Credit and SME sectors. Previously held senior leadership positions at Axis Bank, Federal Bank, and HDFC Bank. Served on boards of Axis Capital, Equirus Capital, and Fedbank Financial Services. Previously acted as Executive Director & Board Member at Federal Bank.

Mr. Jagdeep Mallareddy: Over three decades of experience in financial services with exposure across retail banking, lending, credit, operations, and risk management. Educational qualifications include Master of Business Administration from Andhra University and Bachelor of Commerce (Honours) from Osmania University. Previous associations include Piramal Finance Limited as Chief Executive Officer-Retail Lending, Axis Bank Limited as Head–Retail Lending, ICICI Prudential Life Insurance Company Limited, HDFC Bank Limited, Kotak Mahindra Prime Limited, Cholamandalam Investment and Finance Company Limited, and Bajaj Auto Finance Limited.

Disclosure Requirements

The information is being hosted on the Bank's website at www.indusind.bank.in and has been submitted to the National Stock Exchange of India Limited, BSE Limited, and Luxembourg Stock Exchange.