Given just a two-year extension by the RBI, instead of the three years sought, he is expected to get cracking on festering issues that continue to dog the lender.
If share price and loan growth are the yardstick of success, Sumant Kathpalia should be a relaxed occupant of the corner office. In his three years as the CEO of IndusInd Bank, the bank’s stock has seen a near 300% rise and its loan book has outperformed the industry.
Yet, he isn’t. And that’s because the Reserve Bank of India is keeping Kathpalia on his toes. The regulator, after sitting on the bank’s request for a three-year extension for him for five months, finally granted him one of two years, in March 2023.
While IndusInd Bank, in its response to …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi