The Reserve Bank of India (RBI) appointed Sumant Kathpalia as Managing Director and Chief Executive Officer of Induslnd Bank Ltd. The appointment with effect from 24 March 2020. He will hold the office for a tenure of three years. Kathpalia will replace Romesh Sobti. Romesh Sobti: Sobti has been serving as MD & CEO at Induslnd Bank since 2008. Prior to that, he served as the India head for ABN Amro Bank. Sumant Kathpalia: Sumant Kathpalia is a former ABN Amro employee. He currently heads Induslnd Bank’s retail lending business. The appointment of Kathpalia was nominated and remunerated by the committee of the Induslnd bank’s board. It was communicated to RBI in November 2019. IndusInd Bank Limited: Founded on: 1994 Founder: S. P. Hinduja Headquarters: Pune, Maharashtra IndusInd Bank was the first bank among the new-generation private banks across India. It offers transactional, commercial, and electronic banking products and services.