IndusInd Bank has announced a major leadership change as Arijit Basu, a veteran banker and former Managing Director of State Bank of India, is set to take over as its Part-Time Chairman on January 31, 2026, after the tenure of long-serving chairman Sunil Mehta ends. The board confirmed Basu’s appointment, which comes with approval from the Reserve Bank of India and positions him to helm the board through the next three years.
The leadership transition follows a turbulent period for the bank that included its largest quarterly loss ever and subsequent governance changes. CEO changes and senior leadership turnovers have marked the past year as IndusInd works to restore confidence among investors and stakeholders. With Basu at the helm, the bank is expected to stabilise governance and steer its strategic priorities going forward.
