Earlier this year, Indusind had announced the $ 230 million hit on his accounts for the financial year ending on 31 March 2025 for years of miscounting of internal derivatives. | Photocredit: Anushree Fadnavis
Indusind Bank called Viral Damania on Monday as Chief Financial Officer and marked a new important leadership agreement in almost a month after a hit of $ 230 million in accounts had caused a management shaking earlier this year.
The appointment of Damania, with effect from September 22, comes after the bank said at the end of last month that experienced banker Rajiv Anand had taken the lead as a CEO for a period of three years.
Earlier this year, Indusind had announced the $ 230 million hit on his accounts for the financial year ending on 31 March 2025 for years of miscounting of internal derivatives.
That led to the resignation of Sumant Kathpalia as CEO of the bank and deputy Arun Khurana. Khurana was also illuminated from his CFO tasks in April, a month after the bank had unveiled the accounting decline.
With 27 years of bank experience, Damania was recently the financial chief of the India location of Bank of America. He also worked with global financial institutions, including Citibank Noord -America and Bofa Securities India.
Santosh Kumar, who was called deputy CFO in April, will continue with the role, the bank said.
Published on September 22, 2025
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