IndusInd Bank has replaced Romesh Sobti who is all set to retire and appointed Sumant Kathpalia as the bank's MD and CEO starting March 24, 2020. His appointment is for three years term.
Currently, the incumbent is heading the bank's consumer banking division.
In November last year, the Hinduja Group led bank has said that it has finalized the person who will come as a replacement for Sobti.
And the name of the potential candidate for the post of the bank's MD and CEO was submitted by the Nomination & Remuneration Committee and the Board of the bank with the RBI for its approval for the appointment.
Also, earlier Sobti showed a strong interest to be an integral part of the financial sector after he completes his 12 year long stint at the bank.