Santosh Kumar Appointed Deputy CFO of IndusInd Bank

Amid growing financial concerns and regulatory attention, IndusInd Bank has designated Santosh Kumar as the Deputy CFO, stepping into the role from April 18, 2025. This strategic move fills the leadership gap left by Arun Khurana's departure, as the bank continues its search for a permanent CFO.

Shivam Last updated on April 18th, 2025 10:29 am

In a significant leadership change amidst ongoing financial scrutiny, IndusInd Bank has appointed Santosh Kumar as its Deputy Chief Financial Officer (CFO). This move comes following the end of Deputy CEO Arun Khurana’s tenure as acting CFO. The bank has been facing mounting challenges due to elevated bad loans in the microfinance sector and accounting discrepancies in its derivative transactions, leading to considerable financial impact and regulatory scrutiny.

Key Points

Leadership Change

New Appointment: Santosh Kumar named Deputy CFO of IndusInd Bank.
Effective Date: April 18, 2025.
Reason: To head finance and accounts functions after Arun Khurana’s term ended.
Pending: Appointment of a full-time CFO still awaited.

Bank Profile

IndusInd Bank: India’s 5th-largest private lender by assets.
Sectoral Focus: Strong presence in microfinance, corporate banking, and retail loans.

Financial Irregularities

Accounting Gaps: Discrepancy in booking of currency derivatives going back at least six years.

Estimated Financial Impact

Initial Estimate: ₹1,600 crore.
PwC Estimate: ₹1,979 crore (Approx. $175 million).

Summary/Static	Details
Why in the news?	Santosh Kumar Appointed Deputy CFO of IndusInd Bank
New Deputy	CFO Santosh Kumar
Outgoing CFO	Arun Khurana (Deputy CEO)
Bank Rank	5th-largest private sector bank in India
Share Price	Fall 15% since March 10, 2025
Microfinance Impact	Elevated bad loans led to declining profits