IndusInd Bank appoints ex-BofA India executive Viral Damania as CFO

IndusInd Bank

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26 Aug, 2025 12:21

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IndusInd Bank on September 22 announced the appointment of Viral Damania as its new chief financial officer (CFO), effective immediately. He recently served as the CFO for Bank of America India.

Damania will replace Santosh Kumar who was handling CFO charges as Special Officer-Finance & Accounts. Kumar will continue to remain the Deputy CFO of IndusInd Bank.

Who is Viral Damania?

Speaking about Damania, the private lender said, "Viral Damania is a qualified Chartered Accountant, Company Secretary, and Cost & Works Accountant and holds an ISACA certification in Information Systems Audit and Control."

"He is a seasoned finance leader with over 27 years of professional experience across banking and professional services. Till recently, he was the Chief Financial Officer (CFO) for Bank of America India, where he oversaw the Bank branch entity and BofA Securities India Ltd. He also served as a member of the country leadership team and was also a non-executive director on the board of BofA Securities India Ltd. Prior to Bank of America, he worked with Citibank N.A. in India, Bangladesh, and Sri Lanka and with Price Waterhouse Coopers," it added.

IndusInd Bank CFO shake up:

Gobind Jain had resigned as the CFO of IndusInd Bank in January, months before the lender said that it has found some accounting discrepancies in its derivatives portfolio. He was replaced by Arun Khurana who took over the additional responsibility of CFO while being the deputy CEO.

Khurana was however relieved of his additional responsibility as the CFO in April as the crisis at the private lender unraveled, sending the stock to a spin. Santosh Kumar took over as the Deputy CFO in April.

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