Sumant Kathpalia appointed new MD and CEO of Indusland Bank

New Delhi : Indusland Bank has appointed Sumant Kathpalia as the new MD and CEO for the next three years. His work tenure will officially start from March 24, 2020, the bank said.

Kathpalia, who currently heads the bank’s Consumer Banking business, will take charge after the retirement of Romesh Sobti, the current MD & CEO.

The board of directors in the bank had submitted his name to the Reserve Bank of India, seeking approval for the appointment.

In November, the Hinduja-backed lender had announced that it had finalised the candidate for Sobti's replacement.

Sobti, under whose tenure the bank saw three major business acquisitions, had then indicated his wish to continue to be 'strongly' associated with the financial sector after he ends his 12-year stint at the bank and dismissed any talks about being associated with the bank in any manner.