IndusInd Bank has appointed Viral Damania as its Chief Financial Officer, effective September 22, marking a key leadership addition following the bank’s management restructuring earlier this year.
Damania’s appointment comes shortly after Rajiv Anand took charge as the bank’s CEO for a three-year term. The leadership changes follow a $230 million discrepancy in the bank’s accounts for the financial year ending March 31, 2025, caused by years of misaccounting internal derivative trades. The accounting issue had led to the resignations of former CEO Sumant Kathpalia and deputy Arun Khurana, who had also served as CFO until April.
Damania brings 27 years of banking experience to IndusInd Bank. He was most recently the finance chief at Bank of America India and has held roles at global financial institutions including Citibank North America and BofA Securities India.
The bank also confirmed that Santosh Kumar, appointed as deputy CFO in April, will continue in his role.
Damania’s appointment is seen as a step towards strengthening the bank’s financial leadership and governance after the earlier accounting lapses.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
