IndusInd Bank announced significant changes in its Senior Management Personnel, effective March 23, 2026. Mr. Siddharth Banerjee resigned as Head of Global Markets Group for personal reasons after 15 years with the bank. Concurrently, Mr. Vasudeva Konda was appointed to this role. Mr. Konda brings over 26 years of experience, primarily from ICICI Bank, specializing in Treasury and Risk Management.
Change in Senior Management Personnel
IndusInd Bank has officially informed the exchanges regarding a change in its senior management structure, effective March 23, 2026. This announcement covers both the cessation of one role and the immediate appointment of a successor.
Resignation of Mr. Siddharth Banerjee
Mr. Siddharth Banerjee, who served as the Head of Global Markets Group and was designated as Senior Management Personnel, has tendered his resignation from the services of the Bank. The effective date of his cessation was March 23, 2026, attributed to personal reasons. In his resignation letter, Mr. Banerjee noted that his tenure of 15 years with the organization was “deeply fulfilling and enriching,” and he expressed gratitude for the trust placed in him.
Appointment of Mr. Vasudeva Konda
Effective the same date, March 23, 2026, Mr. Vasudeva Konda has been appointed as the new Head of Global Markets Group and has been designated as Senior Management Personnel of the Bank.
Profile of the New Appointee
Mr. Konda holds a PGDM from IIM Kolkata and a B Tech in Mechanical Engineering from IIT Madras. His prior association was with ICICI Bank, where he served for over 26 years. During his tenure there, he spent 22 years in Treasury and the last four years in Risk management, playing a key leadership role in managing the multicurrency balance sheet, liquidity, and overseeing Fixed Income, FX, and money market activities.
In his most recent capacity at ICICI Bank, Mr. Konda transitioned into a leadership role within the Risk Management Group, heading Enterprise Risk, ICAAP, and Basel Risk analytics.
Transition and Compliance
The bank confirmed its commitment to ensuring a smooth and seamless transition regarding the handover of responsibilities from Mr. Banerjee. The necessary disclosures required under Regulation 30 are detailed in Annexure I of the filing, while a copy of Mr. Banerjee’s resignation is provided in Annexure II.
Source: BSE
