CURRENT AFFAIRS

Detailed explanation-1: -The Board of Directors of IndusInd Bank at its meeting held on September 15, 2022, approved the re-appointment of Sumant Kathpalia as the Managing Director & CEO of the Bank, for a further period of three years, with effect from March 24, 2023, up to March 23, 2026.

Detailed explanation-2: -The correct answer is Bank Boards Bureau. Bank Board Bureau is responsible for the selection and appointment of the Board of Directors in Public Sector Banks, MD and CEO and Financial Institutions.

Detailed explanation-3: -IndusInd Bank has approved the re-appointment of Sumant Kathpalia as managing director and chief executive officer for three years with effect from March 24, 2023, the private lender informed exchanges. The re-appointment is subject to approval from the lender’s shareholders and the Reserve Bank of India.

Detailed explanation-4: -IndusInd Bank is the first among the new-generation private banks in India. The bank started its operations with ₹100 crores (1 billion) in capital, of which ₹60 crores were raised by Indian residents and ₹40 crores were raised by Non-Resident Indians (NRI).

Detailed explanation-5: -Deputy CEO/Head:Global Markets, Indusind Bank Ltd.