IndusInd Bank Appoints Executives as Directors Following RBI Approval for Three Years
IndusInd Bank Limited has successfully secured approval from the Reserve Bank of India (RBI) for the appointment of Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy as Executive Directors (Whole-time Directors). The Board of Directors of the bank noted this regulatory approval on August 4, 2026.The appointments establish both executives in crucial roles within the institution. Mr. Ganesh Sankaran is designated as the Head of Wholesale Banking Group, while Mr. Jagdeep Mallareddy serves as the Head of Consumer Banking. These positions are set to serve for a period of three years.
Effective from August 4, 2026, the appointment period for both executives extends until August 3, 2029 (both days inclusive). The appointments align with the prior approval by the Board that had approved their roles as Additional Directors in the category of Executive Directors.
The profiles and relevant details of Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy are provided below:
| Particulars | Mr. Ganesh Sankaran (DIN: 07580955) | Mr. Jagdeep Mallareddy (DIN: 07492539) |
|---|---|---|
| Role | Head, Wholesale Banking Group | Head, Consumer Banking |
| Date of Appointment | August 4, 2026 | August 4, 2026 |
| Term Length | Three (3) years | Three (3) years |
| Experience Highlights | Over three decades in banking across Wholesale, Retail Credit, and SME. Previous experience includes senior leadership roles at Axis Bank, Federal Bank, and HDFC Bank. He has also served on the boards of Axis Capital, Equirus Capital, and Fedbank Financial Services. | Possesses over three decades of experience in financial services spanning retail banking, lending, credit, operations, and risk management. Prior to joining IndusInd Bank Limited, he was associated with Piramal Finance Limited as Chief Executive Officer-Retail Lending. His background includes senior roles at Axis Bank Limited. |
| Relationship Between Directors | None | None |
INDUSINDBK Stock Price Movement
Shares of IndusInd Bank Limited slipped by 0.28% on Tuesday, settling at ₹1,026 after trading closed. The equity registered a volume of 720,413 shares in the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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