Indusind Rajiv Anand as CEO: Who is the veteran warrior?

Bank Bank Bank has appointed a veteran banker as his new executive head, as he ended the driving vacuum resulting from a derivative accounting scandal.

Anand, which was approved for three years from August 25, 2025 to August 24, 2028, comes after the bank went for nearly four months without the full -time CEO. His choice was confirmed after clearing the Indian Reserve Bank, which had a final opinion on banking dates at the highest level.

This position has been vacant since April, when former CEO Sumant Kathpalia resigned, and has a moral liability of a 1960 crore loss raised with wrong internal derivative trading. Since then, Indusind has been running a temporary executive committee including Soumitra Sen and Anil Rao.

Anand, 59, recently, as the deputy director of the Axis Bank. It brings more than 35 years of experience that extends to asset management, retail trade and wholesale banking services. He joined the Axis group in 2009 as the founding MD of the Asset Management arm, and later moved to Axis Bank in 2013 to head retail banking services and then lead the wholesale banking services from 2018.

It was chosen from a brief list that included Rahul Shukla and ANUP Saha.

Indusind Bank is currently undergoing organizational scrutiny and market after the discovery of wrong virtual profits from the derivative contracts that have been completed early. The separation distorted the financial disclosure over multiple quarters, which deals with a serious blow to the bank’s credibility and prompted the disposal of the level of the Board of Directors.

Anand’s appointment indicates an urgent path. Its leadership is expected to focus on restoring confidence, tightening risk controls, and directing the bank within a period of increased supervision.