IndusInd Bank has announced that Sunil Mehta has completed his tenure and will cease to be the Part-time Chairman and Director effective January 30, 2026. The bank has recorded its appreciation for his contributions and leadership during his term.
The Board of Directors has approved the appointment of Arijit Basu as an Additional Director in the category of Non-Executive Independent Director and Part-Time Chairman, following Reserve Bank of India approval and recommendations from the Compensation and Nomination and Remuneration Committee.
His three-year term has been scheduled from January 31, 2026 to January 30, 2029, subject to shareholder approval.
The decision has been taken during a Board meeting held on January 23, 2026, with deliberations on the appointment concluding within minutes of the meeting’s commencement.
Basu has previously served as Chairman of HDB Financial Services, Managing Director at State Bank of India, and MD and CEO of SBI Life Insurance Company. He has also served as an Independent Director on multiple corporate boards, including Prudential Plc and CleanMax Enviro Energy Solutions, and has acted as a Senior Advisor to Ares Management Corporation. The bank has confirmed that he is not debarred from holding a directorial position by any regulatory authority.
This disclosure has been made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has also been published on the bank’s official website.
