IndusInd Bank: Sunil Mehta Steps Down, Arijit Basu Appointed New Chairman

• Sunil Mehta will step down as part-time Chairman and director of IndusInd Bank on January 30, completing his tenure.
• Arijit Basu will succeed Mehta as Additional Director and part-time Chairman for three years, effective January 31.
• Basu's appointment was approved by the board, following Reserve Bank of India's approval and committee recommendations.
• Arijit Basu previously chaired HDB Financial Services and served as MD of State Bank of India and SBI Life Insurance Company.
• Sunil Mehta led IndusInd Bank through a crisis in 2023 involving accounting discrepancies and leadership changes.

Why It Matters: IndusInd Bank sees a leadership change as Arijit Basu replaces Sunil Mehta as Chairman.