Shares of India's IndusInd Bank fell nearly 6% on Monday to their lowest level since July 2022, after the country's central bank approved a shorter extension to its CEO's tenure, raising potential leadership transition risks and business uncertainty.

IndusInd Bank shares today are trading at Rs.906.25, down Rs.30.50 (3.26%) as of the latest session. Over the past five days, the stock has decreased by 7.78%, and over the past six months, it has seen a significant drop of 36.

Concerns have arisen over the RBI's decision to extend IndusInd Bank CEO Sumant Kathpalia's tenure by just one year. This move raises governance and asset quality worries, potentially negatively impacting the bank's stock.

(Reuters) -Shares of IndusInd Bank fell nearly 6% on Monday to their lowest level since July 2022, after the country's central bank approved a shorter extension to its CEO's tenure, raising concerns around leadership transition and business uncertainty.

IndusInd Bank shares drop 6% as RBI approves shorter CEO tenure, raising leadership transition risks and business uncertainty.

The Reserve Bank of India approved a one-year reappointment of Sumant Kathpalia as MD and CEO of IndusInd Bank, effective March 2025, reducing the tenure initially proposed by the board. Kathpalia, with 37 years of experience,

Indian private lender IndusInd Bank said on Friday it had received approval from the country's central bank to reappoint Sumant Kathpalia as its chief executive officer and managing director for a period of one year.

Sumant Kathpalia is a career banker with over 37 years of rich experience in large multi-national banks such as Citibank, Bank of America and ABN AMRO prior to joining Induslnd Bank. At IndusInd Bank,