Mumbai (Maharashtra) [India], Feb 28 : Private sector lender IndusInd Bank has announced the appointment of Sumanth Kathpalia as the Managing Director and Chief Executive Officer succeeding Romesh Sobti.
Kathpalia is the head of consumer loans at the bank and will take over in March once Sobti retires after being at the helm for over a decade.
"The bank has received a communication from the Reserve Bank of India, approving the appointment of Sumant Kathpalia who currently heads the bank's consumer banking business, as its Managing Director and CEO for three years with effect from March 24 post the retirement of Romesh Sobti, the current MD & CEO," the bank said in a statement.
Kathpalia is credited with building consumer loans portfolio as part of a strategy to expand the bank's loan book. He is a chartered accountant by qualification.
( With inputs from ANI )