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Indusind Bank Ltd · 532187
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IndusInd Bank Ltd has announced the approval of RBI for the appointment of two new executive directors, Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy, for a period of three years. The appointments are effective from August 4, 2026, and the directors will hold the office for a period of three years, up to August 3, 2029. The details of the appointments are enclosed as Annexure I.
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Indusind Bank Ltd - 532187 - RBI Approval - Appointment Of Executive Directors
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August 4, 2026
National Stock Exchange of India Limited (Symbol: INDUSINDBK)
BSE Limited (Scrip Code: 532187)
Luxembourg Stock Exchange
Madam / Dear Sir,
Sub.: RBI Approval – Appointment of Executive Directors
Ref.: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015
This is in furtherance of the disclosure made by IndusInd Bank Limited (“Bank”) on April 24, 2026,
informing that the Board of Directors (“Board”) of the Bank had approved:
1. the appointment of Mr. Ganesh Sankaran (DIN: 07580955), Head, Wholesale Banking Group, and
Mr. Jagdeep Mallareddy (DIN: 07492539), Head, Consumer Banking, forming part of the Senior
Management Personnel of the Bank, as Additional Directors in the category of Executive Directors
i.e. Whole time Directors of the Bank, for a period of three (3) years, with effect from such date or for
such other period as may be approved by the Reserve Bank of India (“RBI”), at a remuneration as
may be approved by the RBI and subject to the approval of the Shareholders of the Bank; and
2. the redesignation of Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy as Executive Director -
Designate with effect from April 24, 2026, till their appointments as Additional Directors in the
category of Executive Directors i.e. Whole time Directors of the Bank, take effect.
In this regard, we wish to inform that the Board today i.e. August 4, 2026 noted the approval granted by the
Reserve Bank of India vide its letter dated August 4, 2026, for the appointment of Mr. Ganesh Sankaran and
Mr. Jagdeep Mallareddy as Executive Directors (Whole-time Directors) of the Bank, for a period of three
years, which is effective from August 4, 2026 up to August 3, 2029 (both days inclusive).
The details of Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy as required under regulation 30 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular no.
HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are enclosed herewith as Annexure I.
Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy are not debarred from holding the office of a Director, by
virtue of any order passed by SEBI or any other such authority.
This information is also being hosted on the Bank’s website at www.indusind.bank.in.
We request you to take the above information on record.
Thanking you,
Yours faithfully,
For IndusInd Bank Limited
Anand Kumar Das
Company Secretary
Encl.: as above
Solitaire Corporate Park Office: IndusInd Bank Limited, Building No.7, Ground floor, Solitaire Corporate
Park, Andheri –Ghatkopar Link Road, Chakala Andheri (E), Mumbai – 400 093, India, Tel: (022) 66412442
Registered Office: 2401 Gen. Thimmayya Road, Pune 411001, India
Contact us:(020) 2634 3201| Email us: reachus@indusind.com | Visit us:www.indusindbank.in
CIN: L65191PN1994PLC076333
Page 1 of 2
Annexure I
Disclosure of information pursuant to Regulation 30 SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, read with SEBI Master Circular no. HO/49/14/14(7)2025-CFD-
POD2/I/3762/2026 dated January 30, 2026
Particulars Mr. Ganesh Sankaran (DIN: Mr. Jagdeep Mallareddy (DIN:
07580955) 07492539)
Reason for change viz. Appointment Appointment
appointment, resignation,
removal, death or
otherwise
Date of August 4, 2026 August 4, 2026
appointment/cessation and
Terms of appointment For a period of three (3) years, with For a period of three (3) years, with
effect from August 4, 2026 upto effect from August 4, 2026 upto
August 3, 2029 (both days August 3, 2029 (both days
inclusive) inclusive)
Brief Profile Mr. Ganesh Sankaran is a seasoned Mr. Jagdeep Mallareddy has over
banking leader with over three three decades of experience in the
decades of experience across financial services sector, with
Wholesale, Retail Credit and SME. exposure across retail banking,
He has held senior leadership lending, credit, operations, and risk
positions at leading private sector management.
Banks, playing a pivotal role in
building businesses, driving large- Mr. Jagdeep Mallareddy holds a
scale business transformations, and Master of Business Administration
delivering consistent performance. from Andhra University and a
His career reflects depth in Bachelor of Commerce (Honours)
relationship management, credit from Osmania University.
and risk, product expertise, and
board-level exposure. Prior to joining IndusInd Bank
Limited, he was associated with
Prior to joining IndusInd Bank, his Piramal Finance Limited as Chief
major banking career spans across Executive Officer- Retail Lending.
Axis Bank, Federal Bank and Earlier, he was associated with
HDFC Bank. Axis Bank Limited, where he held
senior leadership roles including
Head – Retail Lending. His
Mr. Ganesh Sankaran had also
previous experience also includes
served on the boards of Axis associations with ICICI Prudential
Capital, Equirus Capital, and Life Insurance Company Limited,
Fedbank Financial Services. He HDFC Bank Limited, Kotak
also acted as Executive Director & Mahindra Prime Limited,
Board Member at Federal Bank. Cholamandalam Investment and
Finance Company Limited, and
Bajaj Auto Finance Limited.
Disclosure of relationship None None
between Directors inter se
Solitaire Corporate Park Office: IndusInd Bank Limited, Building No.7, Ground floor, Solitaire Corporate
Park, Andheri –Ghatkopar Link Road, Chakala Andheri (E), Mumbai – 400 093, India, Tel: (022) 66412442
Registered Office: 2401 Gen. Thimmayya Road, Pune 411001, India
Contact us:(020) 2634 3201| Email us: reachus@indusind.com | Visit us:www.indusindbank.in
CIN: L65191PN1994PLC076333
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