Shares of IndusInd Bank surged almost 6 percent on Tuesday, August 5, following the announcement of Rajiv Anand’s appointment as the bank’s new Managing Director and Chief Executive Officer (MD & CEO). 

In an exchange filing, the bank stated that its board has approved Anand's designation as 'Additional Director' in the MD & CEO category, for a period of three years with his tenure set to begin on August 25, 2025.The three-year appointment will run until August 24, 2028, pending shareholder approval at the bank's upcoming general meeting.

In the filing, the bank said that Anand brings extensive experience from his previous role as Deputy Managing Director at Axis Bank, where he spearheaded the bank's Wholesale Banking Business.

The Mumbai-based private lender made the announcement late Monday night, and the appointment has now received the Reserve Bank of India’s approval, a requirement for top-level banking appointments.