lnduslnd Bank share price dips 2%
The RBI has approved the appointment of Sumant Kathpalia as the next managing director and chief executive officer of the bank.
February 28, 2020 / 02:27 PM IST
lnduslnd Bank share price declined over 2 percent intraday on February 28 despite the Reserve Bank of India approving the appointment of Sumant Kathpalia as the managing director and chief executive officer at the private lender.
The stock touched a 52-week low of Rs 1,085.40.
Kathpalia, who has been appointed for a three-year term, will take over on March 24, 2020 from Romesh Sobti.
A career banker, Kathpalia has spent more than 33 years working with Citibank, Bank of America & ABN AMRO and Induslnd Bank.
At 1405 hours, IndusInd Bank was quoting at Rs 1,106.90, down Rs 8.70, or 0.78 percent, on the BSE.