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Informist, Monday, Sept. 1, 2025

MUMBAI – IndusInd Bank appointed Pragati Gondhalekar as head – Internal Audit of the bank Monday, the bank informed exchanges. Early August, IndusInd Bank's board approved the appointment of Rajiv Anand as the managing director and chief executive officer of the bank.

Gondhalekar is now part of the senior management personnel of the bank. Prior to joining IndusInd Bank, Gondhalekar was country head – group audit, India at Deutsche Bank. Gondhalekar has also been in leadership roles at L&T Financial Services and PwC. 

IndusInd Bank has faced several exits at senior management level since late April, including CEO Sumant Kathpalia and deputy CEO Arun Khurana, after the lender reported discrepancies in its derivatives accounting and microfinance loan portfolio for 2024-25 (Apr-Mar). It said the irregularities in the microfinance book were fraud committed against the bank.

With a net profit of INR 6.84 billion, the bank returned to profitability in Apr-Jun after a rare quarterly loss of INR 22.36 billion in the March quarter, following discrepancies in the bank's derivatives portfolio accounting. The lender's net profit declined by a whopping 68% year-on-year as provisions increased by nearly 66% for the quarter ended June.  End

Reported by Cassandra Carvalho

Edited by Akul Nishant Akhoury

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