August 4, 2026: IndusInd Bank has received approval from the Reserve Bank of India (RBI) for the appointment of Ganesh Sankaran and Jagdeep Mallareddy as Executive Directors (Whole-time Directors) for a period of three years.
The appointments, approved by the bank’s Board on April 24, 2026, become effective from August 4, 2026 and will remain valid until August 3, 2029, subject to shareholder approval.
The bank disclosed the development in a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
RBI Clears Leadership Appointments
Following RBI’s approval dated August 4, 2026, the Board formally noted the appointments during its meeting held on the same day.
Before assuming the role of Executive Directors, both executives had been serving as Executive Director-Designate since April 24, 2026.
Who Are the New Executive Directors?
Ganesh Sankaran
Ganesh Sankaran currently leads IndusInd Bank’s Wholesale Banking Group and brings more than 30 years of banking experience across wholesale banking, SME, retail credit, and risk management.
Prior to joining IndusInd Bank, he held senior leadership positions at Axis Bank, Federal Bank, and HDFC Bank. He has also served on the boards of Axis Capital, Equirus Capital, Fedbank Financial Services, and as an Executive Director at Federal Bank.
Jagdeep Mallareddy
Jagdeep Mallareddy heads Consumer Banking at IndusInd Bank and has over three decades of experience in retail banking, lending, operations, and risk management.
Before joining IndusInd Bank, he served as CEO – Retail Lending at Piramal Finance. His earlier leadership roles include positions at Axis Bank, ICICI Prudential Life Insurance, HDFC Bank, Kotak Mahindra Prime, Cholamandalam Investment & Finance, and Bajaj Auto Finance.
No Regulatory Restrictions
IndusInd Bank confirmed that neither Ganesh Sankaran nor Jagdeep Mallareddy has been debarred by SEBI or any other regulatory authority from holding the office of Director.
The appointments are expected to strengthen the bank’s leadership team across its wholesale and consumer banking businesses.
