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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The CEO’s tenure has been extended to no more than a year by the RBI, instead of the three sought by the bank. The regulator’s message is loud and clear: this might be Kathpalia’s last chance at getting his house in order.
On Friday, IndusInd Bank announced that the Reserve Bank of India has granted its CEO, Sumant Kathpalia, a one-year extension just days before his term was to end. On the face of it, his reappointment would appear to end the uncertainty surrounding the bank’s leadership. However, Kathpalia and the bank have little reason to celebrate.
For one, the bank’s board in September last year had greenlit Kathpalia’s reappointment for a three-year term. But the RBI sat on the decision for a few months, only to cut his stint by two years. This signals the central bank’s dissatisfaction with how the …
Divergent narratives from the Haryana government and the lender raise deeper questions on oversight, authorizations and systemic lapses—answers that may emerge only after a forensic audit.
The Bengaluru-based lender is once again gearing up to seek the RBI’s nod after the central bank returned its application last year.
The Kerala-based bank has been chasing costly and risky bulk term deposits amid tanking profitability.
