New Delhi: IndusInd Bank on Friday said Sunil Mehta has ceased to be the bank’s part-time chairman and director upon completion of his tenure, and Arijit Basu has been appointed as the new part-time chairman with effect from January 31, 2026, according to a regulatory filing.
The bank said Mehta stepped down from the role with effect from January 30, 2026, while Basu’s appointment will be for a period of three years till January 30, 2029, subject to shareholder approval.
Basu, a former managing director of State Bank of India and former MD & CEO of SBI Life Insurance, brings decades of experience in banking and financial services. Prior to this, he also served as chairman of HDB Financial Services, a subsidiary of HDFC Bank, and currently holds board and advisory roles across financial and energy companies.
IndusInd Bank said the change in leadership has been disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations and the details have been uploaded on the bank’s website.
The appointment comes at a time when private sector banks are navigating a mixed macro environment, with a focus on asset quality, credit growth and regulatory compliance. The bank did not indicate any change in strategy following the leadership transition.