Sunil Mehta to step down as IndusInd Bank Chairman; Arijit Basu named as successor

IndusInd Bank has announced a leadership change at its board, with Chairman Sunil Mehta set to step down at the conclusion of his tenure on 30 January 2026. Mehta will cease to serve as Part-time Chairman and Director effective from that date.

The bank further confirmed that its board, at a meeting on 23 January 2026, approved the appointment of Arijit Basu as the new Part-time Chairman. Basu will join the board as an Additional Director in the category of Non-Executive Independent Director, with his term as Chairman beginning on 31 January 2026. His appointment will span three years, ending on 30 January 2029.

Basu brings extensive experience in the financial services sector. He previously served as Chairman of HDB Financial Services, a subsidiary of HDFC Bank, and held leadership roles as Managing Director and CEO of SBI Life Insurance Company. Earlier, he retired as a Managing Director and Board Member of the State Bank of India.

In addition to his new role, Basu currently serves as an Independent Director on the boards of Prudential plc, Peerless Hospitex & Hospital Research Centre, and CleanMax Enviro Energy Solutions. He is also a Senior Advisor to Ares Management Corporation and a member of the advisory board of Razorpay.