IndusInd Bank Sees Fresh Top-Level Exits as Management Reshuffle Continues

IndusInd Bank has announced the exit of two senior executives as the private sector lender continues to see organisational rejig at the top. The departures come even as the bank works to strengthen its leadership team and remains under investor scrutiny over governance issues. 

The bank’s head of customer management, Rana Vikram Anand, and head of wealth and para banking, Anish Behl, have stepped down from their positions, according to media reports. Anand’s tenure will end on April 1, while Behl’s will end after January 30. 

In his resignation letter, Anand said he has decided to move on to explore new opportunities and thanked the bank for the support he received during his time there. Behl, meanwhile, said he plans to pursue opportunities in the insurance sector.

These exits add to the series of resignations at IndusInd Bank in the last few weeks. In December 2025, the bank also announced the resignation of Chairman Sunil Mehta, who is expected to step down this month due to organisational overhaul. 

Reports stated that Mehta, who has served as IndusInd's Chairman since January 2023, had told the board that he wants to resign at the conclusion of his tenure in January 2026 and won't seek reappointment.

The organisational rejig at IndusInd Bank started in April 2025 when its former CEO Sumant Kathpalia and Deputy CEO Arun Khurana had resigned following the ₹1,960 crore accounting lapses. 

Since senior banker Rajiv Anand became CEO of IndusInd Bank in August 2025, the bank has been going through an organisational transformation.

Ganesh Sankaran was named head of wholesale operations by the lender. Amitabh Kumar Singh, the bank's new chief human resources officer, Viral Damania, a new CFO, and several other senior executives have been appointed in the past three months.

IndusInd Bank has remained under pressure after governance and accounting lapses surfaced last year. These issues resulted in a record quarterly loss in the March quarter. The top-level executives’ exits also drew criticism from investors over board oversight and delays in disclosing losses linked to the bank’s derivatives portfolio.

IndusInd Bank had earlier announced plans to raise up to $3.47 billion and allow its promoters to appoint two nominees to the board, as part of steps aimed at strengthening its capital base and restoring investor confidence.

Last month, HDFC Bank announced that the Reserve Bank of India (RBI) has allowed it to acquire up to a 9.5% stake in rival IndusInd Bank. The approval covers HDFC Bank group entities, including HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and HDFC Securities Limited.

The investments by HDFC Bank group entities are part of their normal course of business.