IndusInd Bank announced the appointment of Sunil Mehta as an Additional Director in the capacity of Non-Executive Independent Director and Part-time Chairman of the Bank, with effect from January 31, 2023.
According to the company’s exchange filing, “This is to further inform you that based on approval from Reserve Bank of India and recommendations made by Compensation and Nomination & Remuneration Committee, the Board of Directors of the Bank at its meeting held today i.e. January 30, 2023 appointed Mr. Sunil Mehta (DIN: 00065343), as Additional Director in the capacity of Non-Executive Independent Director and Part-time Chairman of the Bank for a period of three years, with effect from January 31, 2023 upto January 30, 2026 (both days inclusive) subject to the approval of the Shareholders of the Bank, in terms of the Companies Act, 2013, the Banking Regulation Act, 1949, and the rules, guidelines and circulars issued by the RBI, from time to time, and the SEBI Listing Regulations.”
Sunil Mehta is a graduate from Shri Ram College of Commerce, Delhi University. He is a Fellow Member of the Institute of Chartered Accountants of India and an Alumni of the Wharton School of Management, University of Pennsylvania, USA.
Sunil Mehta has forty years of proven leadership experience in banking, financial services, insurance and investments with leading global and domestic financial institutions namely Citibank, AIG, SBI, PNB and YES Bank amongst others. Since the year 2000, Mehta he was in AIG companies and was responsible for all AIG businesses in India covering Insurance, Financial Services, Real Estate, Asset Management and Investments amongst other businesses and was on the Board of all AIG Companies in India including, Tata AIG General Insurance and Tata AIA Life Insurance Ltd for several years.
Mehta worked with Citibank for over 18 years where he held various senior positions covering operations, risk management, public sector business, sales & risk reengineering and extensively across corporate banking.
He was an Independent Director on the Board of State Bank of India from June 2014 to March 2017; Non-Executive Chairman of Punjab National Bank from March 2017 till February 2020 and was then appointed Non-Executive Chairman of YES Bank Limited by a Government of India Notification dated March 13, 2020 under the Bank’s Reconstruction Scheme from March 2020 to July 2022.
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