The board of IndusInd Bank has reappointed Sumant Kathpalia as managing director and CEO for a period of two years.

The second term of Kathpalia will come into effect from 24 March 2023.

"...the Board of Directors of the bank, at its meeting held today has decided to seek approval of shareholders of the bank by means of an ordinary resolution through postal ballot for re-appointment of Mr. Sumant Kathpalia as a managing director and chief executive officer (MD & CEO) of IndusInd Bank Limited for a period of two years with effect from March 24, 2023 upto March 23, 2025," IndusInd Bank said in a regulatory filing.

Earlier, the Reserve Bank of India (RBI) had given its clearance for the reappointment of Kathpalia for another term.