Man With a Mandate: Rajiv Anand Begins IndusInd Bank’s Leadership Reset

IndusInd Bank enters a new chapter under Rajiv Anand

After a turbulent year marked by accounting discrepancies and leadership exits, IndusInd Bank has appointed Rajiv Anand as its new MD and CEO for a three-year term starting August 25, 2025. Anand, formerly Deputy MD at Axis Bank, is tasked with rebuilding trust and driving sustainable growth.

The bank posted its largest-ever quarterly loss earlier this year due to a ₹2,000 crore accounting hit. Anand’s immediate focus is on governance clean-up, leadership renewal, and preparing the bank for system-level growth in FY26–27.

Important points:

• Anand has onboarded new CXOs across finance, audit, legal, and transformation roles  
• A new CEO for the micro-loan vertical BFIL is expected by end-November  
• IndusInd aims to grow in line with the broader banking sector next fiscal  
• The bank’s largest shareholder, the Hinduja Group, continues to back the turnaround strategy

Anand’s leadership marks a pivotal moment for IndusInd, as it seeks to restore credibility and reposition itself for long-term value creation.

Sources: Business Standard, Moneycontrol, The Hindu Business Line, Financial Express, Economic Times BFSI