Sunil Mehta, the current Chairman of IndusInd Bank, will retire on January 30, 2026. The Board has approved the appointment of Arijit Basu as the new Chairman, effective January 31, 2026, for a three-year term, subject to shareholder approval. The bank acknowledged Mehta’s contributions, citing his leadership through challenging times. Basu’s appointment is part of the bank’s succession planning.
Chairman Transition
Sunil Mehta will step down as Part-time Chairman and Director of IndusInd Bank on January 30, 2026, upon completing his tenure.
Appointment of New Chairman
The Board of Directors has approved the appointment of Arijit Basu as ‘Additional Director’ in the category of Non-Executive Independent Director and Part-Time Chairman of the Bank effective January 31, 2026. His term will last for three years, until January 30, 2029, pending shareholder approval.
Arijit Basu’s Background
Arijit Basu holds a master’s degree in arts and is a Certified Associate of the Indian Institute of Bankers. Previously, he served as Chairman of HDB Financial Services Ltd., a subsidiary of HDFC Bank Ltd. He retired as a Board Member and Managing Director of State Bank of India and was the MD & CEO of SBI Life Insurance Company Ltd.
Currently, Arijit Basu serves as an Independent Director on the boards of Prudential Plc, Peerless Hospitex and Hospital Research Centre Ltd. and CleanMax Enviro Energy Solutions Ltd. He also serves as a Senior Advisor to Ares Management Corporation.
Source: BSE
