Why Did IndusInd Bank CEO Sumant Kathpalia Resign?
IndusInd Bank CEO Sumant Kathpalia resigned on April 29, 2025, taking moral responsibility for discrepancies in the bank’s derivatives portfolio.
The resignation, effective at the close of business hours, follows the exit of Deputy CEO Arun Khurana a day earlier.
Kathpalia acknowledged acts of commission and omission in his letter.
The bank’s board has sought RBI approval for a Committee of Executives to temporarily assume CEO duties.
The derivatives issue, flagged on March 10, will negatively impact the bank’s net worth by 2.27%, amounting to ₹1,979 crore.
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