Exclusive | IndusInd Bank CEO role: Axis Bank, HDFC Bank and Bajaj Finance executives in the fray

IndusInd Bank is inching closer to finalising a new Chief Executive Officer (CEO) as it works to recover from a string of accounting lapses and senior management exits that have shaken investor confidence.

Sources tell CNBC-TV18 that three names are currently being actively considered by the board and will be sent to the Reserve Bank of India (RBI) for final approval very soon.

According to people familiar with the matter, the contenders include Rajiv Anand, currently Deputy Managing Director at Axis Bank; Anup Saha, Managing Director of Bajaj Finance; and Rahul Shukla, Group Head of Commercial and Rural Banking at HDFC Bank, who is currently on sabbatical.

Earlier, IndusInd Bank had disclosed that the RBI had asked its board to submit a list of potential candidates for the top job by June 30. Chairman Sunil Mehta had stated in an analyst concall that the names would be submitted “well ahead of the deadline.”

Meet the contenders

Rajiv Anand has over 35 years of experience in financial services. He joined Axis Asset Management Co. Ltd. in 2009 as its founding Managing Director & CEO. In 2013, he was appointed President of Retail Banking at Axis Bank for a five-year term. He has served on the bank’s board since 2013. In 2018, he took on the role of Head of Wholesale Banking. Since December 27, 2021, he has been the Deputy Managing Director, overseeing functions including Wholesale Banking, Digital Banking, Marketing, and Corporate Communications.

Anup Saha brings more than three decades of industry experience, including 25 years in financial services. That includes a 14-year stint at ICICI Bank before joining Bajaj Finance in 2017. He was recently elevated to the role of Managing Director and has handled a range of businesses, including credit cards, auto loans, mortgages, and structured finance.

Rahul Shukla joined HDFC Bank in March 2018 as Group Head – Corporate & Business Banking and later became Group Head – Commercial and Rural Banking (CRB). He has over 30 years of work experience. His previous organisation was Citibank, which he joined in 1991 and where he served in various roles in India and overseas. He was Head of Corporate Bank (South Asia) at Citibank, responsible for coverage of large corporates, financial institutions, public sector entities, and MNCs operating in India, Bangladesh, and Sri Lanka. He was also a member of Citibank’s Global Corporate Banking Operating Committee.