IndusInd Bank's Chief Risk Officer Ramaswamy Meyyappan Resigns From His Position

IndusInd Bank's Chief Risk Officer Ramaswamy Meyyappan has stepped down from his position. Meyyappan had been with the bank since May 2014. The bank has identified a replacement for the role and is completing the necessary formalities before making an official announcement regarding the new Chief Risk Officer.

"Meyyappan has been with the Bank since May 20, 2014. Meyyappan has informed that he will be moving on to lead Risk function at a MNC Bank in his next phase of career. The Bank appreciates the contribution by Meyyappan and wishes him success in his future endeavours," the statement reads.

The company added that Murlidhar Lakhara, who previously served as the bank's chief compliance officer for more than five years, has been given the responsibility of leading the newly created Assurance Function, which reports to the MD and CEO of the bank.

"Sachin Patange has been appointed as Chief Compliance Officer, and he comes with over 32 years of experience in the Compliance function across various Banks/Financial Institutions," the bank added.

Sumant Kathpalia's appointment to the position of managing director and chief executive officer of the bank for another two years was authorised by the Reserve Bank of India (RBI) in March.