IndusInd Bank appoints Chief Accountant Santosh Kumar as deputy CFO
This story was originally published at 19:59 IST on 18 April 2025
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MUMBAI – The board of IndusInd Bank on Thursday appointed Santosh Kumar as the deputy chief financial officer and special officer – finance and accounts with effect from Friday, the bank informed the exchanges. With this, Arun Khurana will be relieved of his additional responsibility as the chief financial officer of the bank. Khurana, executive director and deputy chief executive officer, has been discharging additional duties as chief financial officer since Jan. 21.
"Mr. Santosh Kumar is authorised in such capacity to head the finance and accounts functions of the bank till a full-time CFO is appointed," the bank said. Currently, in his role as chief accountant, Kumar has been concentrating on streamlining costs and ease of reporting, the filing said.
IndusInd Bank on Tuesday said PricewaterhouseCoopers, the agency appointed by the bank to review its derivatives portfolio accounting, has quantified a negative impact on account of the discrepancies in the portfolio at INR 19.79 billion as of Jun. 30. The bank had first reported the discrepancies on Mar. 10. "The bank will appropriately reflect the resultant impact in the financial statements for FY 2024-25 and continue to take suitable steps to augment the internal controls relating to the derivative accounting operations of the bank," the bank had said on Tuesday.
Thursday, shares of the bank closed 0.8% higher at INR 794.70 on the National Stock Exchange. The bank made the announcement post-market hours on Thursday. End
Reported by Kshipra Petkar
Edited by Saji George Titus
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