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IndusInd Bank appoints new CEO after forex blunder shakes finances
IndusInd Bank just named Rajiv Anand as its new CEO, stepping in after the previous top bosses resigned following a massive ₹2,000 crore forex mistake that shook up the bank's finances.
The error led to a 25% drop in share prices and wiped out ₹15,000 crore in market value—definitely not a small bump.
Anand's experience could help, but investors are still on edge
Anand brings over 35 years of experience and is known for driving digital change at Axis Bank.
Investors seem hopeful—shares jumped 5.4% after his appointment—but confidence is still shaky overall.
Anand's main focus now will be fixing compliance issues and rebuilding trust so the bank can get back on track.