The Reserve Financial institution of India (RBI) has authorized the appointment of Sumant Kathpalia as MD & CEO of IndusInd Financial institution for 3 years with impact from March 24, 2020. Mr. Kathpalia heads the buyer banking enterprise on the non-public sector lender.
“The bank has received a communication from the RBI today, approving the appointment of Mr. Sumant Kathpalia, who currently heads the Bank’s Consumer Banking business, as its Managing Director & CEO for 3 years, with effect fiom March 24, 2020,” the financial institution mentioned in submitting to the exchanges.
Mr. Kathpalia replaces Ramesh Sobti, who will retire as he attains the age of 70. RBI tips enable an individual to be the MD & CEO of the non-public financial institution until the age of 70.
Mr. Kathpalia is a profession banker with over 33 years of expertise in multi-national banks akin to Citibank, Financial institution of America, and ABN AMRO.
“Mr. Kathpalia has successfully held several leadership roles over his career with a focus on driving business growth and innovation. He has diversified experience across various functions including Business Strategy, Sales & Distribution, Operations,Systems, Risk & Credit Management and Financial Management,” mentioned the assertion.
Mr. Kathpalia is a certified chartered accountant and a commerce graduate from Hindu School, Delhi College.