IndusInd Bank Appoints Former State Bank of India Managing Director Arijit Basu as New Chairman
IndusInd Bank has named Arijit Basu as its new chairman to succeed Sunil Mehta. The move follows a period of financial losses and management restructuring.
Insights:
IndusInd Bank Limited announced on Friday, January 23, 2026, that Chairman Sunil Mehta sunil mehtawill step down at the conclusion of his term this month. To lead the board, the lender has appointed Arijit Basu arijit basuas his successor, with the transition scheduled to take effect on January 31, 2026. This appointment follows reports from Reuters in December indicating that Sunil Mehtahad informed the board of his desire to leave at the end of his tenure, which began in January 2023.
Arijit Basubrings extensive experience from the financial sector in India 
IN. He currently serves as the chairman of HDB Financial Services Limited . Prior to his current role, Arijit Basuheld several high-profile positions, including serving as the Managing Director of the State Bank of India and as the Chief Executive Officer of SBI Life Insurance Company Limited .
IN. He currently serves as the chairman of HDB Financial Services Limited . Prior to his current role, Arijit Basuheld several high-profile positions, including serving as the Managing Director of the State Bank of India and as the Chief Executive Officer of SBI Life Insurance Company Limited .
