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The Board’s Oversight Committee, chaired by the Board Chairman, includes the heads of key board committees such as Audit, Compensation & Nomination, and Risk Management.
| Photo Credit:
ANUSHREE FADNAVIS/Reuters
IndusInd Bank said it has constituted a committee of executives comprising head of consumer banking Soumitra Sen and Chief Administrative Officer Anil Rao to oversee the bank’s operations under the oversight and guidance of an oversight committee of the Board.
In a late filing to the exchanges, the bank said the Reserve Bank of India had given its approval to the committee. On Tuesday, the bank’s Managing Director and CEO, Sumant Kathpalia, resigned, taking moral responsibility for the lapses in its derivatives portfolio.
The committee of executives would oversee the running of the bank until a new MD and CEO assume charge.
The Oversight Committee shall be chaired by the Chairman of the Board and shall comprise the chairs of Audit Committee, the Compensation and Nomination & Remuneration Committee and the Risk Management Committee, as members, the bank said.
“The Bank is taking all necessary steps to ensure stability and continuity of its operations while maintaining high standards of governance,” it said.
Published on April 30, 2025
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