(MENAFN- IANS) New Delhi, Aug 5 (IANS) Shares of private lender IndusInd Bank went up on Tuesday, after the Reserve Bank of India (RBI) approved the appointment of Rajiv Anand as its new managing director and CEO.

The private lender had suffered a dent in investor confidence after the recent Rs 2,000 crore accounting lapse.

The three-year appointment of Anand will run until August 24, 2028, pending shareholder approval at the bank's upcoming general meeting.

“The Board of Directors of IndusInd Bank Limited today approved the appointment of Rajiv Anand as the Managing Director and Chief Executive Officer of the Bank effective from August 25, 2025 for three years,” the private lender said in a stock exchange filing.

Anand has a career spanning over 35 years across multiple facets of the banking and financial industry. In his most recent role, Rajiv was associated with Axis Bank Limited as the Deputy Managing Director.

“On behalf of the Board, I congratulate Rajiv Anand on his appointment as the MD and CEO of the Bank. The Board looks forward to working closely with Rajiv and the management team to deliver strong and robust growth while prioritising highest standards of governance,” said Sunil Mehta, the Chairman of the Board of Directors, IndusInd Bank.

The Board would like to express its gratitude to the Reserve Bank of India for its invaluable support throughout the process. The Board, the Management team and all employees look forward to welcoming Rajiv to the IndusInd family and growing this franchise to it's full potential, he added.

Analysts believe that Anand can leverage the experience he has gained working across global financial institutions across various functions.

Earlier, during the Q1 FY26 investor call, Mehta had said that the bank was working to strengthen its senior management bench by identifying top-quality leadership talent, both internally and externally.

Investors were concerned about a public banker taking the position of MD. Investors now view the appointment of a private banker to this position as a positive development.

The Mumbai-based private lender reported a net loss of Rs 2,328 crore for the January-March period as accounting issues and stress in the microfinance portfolio led to the balance sheet taking a hit.

-IANS

aaron/na

MENAFN05082025000231011071ID1109885130