India, May 06, 2026: IndusInd Bank today announced further leadership updates, building on appointments announced earlier, as part of its ongoing efforts to strengthen its governance and leadership framework. With these additions, coverage across all core functions is firmly in place, reflecting the organisation’s depth and experience aligned with its long-term growth framework.
Most recently, the Bank appointed Mr. Nilesh Shivji Vikamsey and Mr. Ravindra Babu Garikipati as Additional Directors in the category of Non-Executive Independent Directors on the Board for a period of four consecutive years from April 24, 2026, to April 23, 2030 (both days inclusive), subject to shareholder approval. Further, the Bank re-designated Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy as Executive Director – Designate, with effect from April 24, 2026, until their appointment as Additional Directors in the category of Executive Directors (Whole-time Directors of the Bank) takes effect.
The other recent key leadership appointments at IndusInd Bank include:
∙ Mr. Jagdeep Mallareddy – Head – Consumer Banking
A seasoned veteran of the Indian financial services sector, Mr. Mallareddy brings over 30 years of experience to IndusInd Bank’s leadership team. He leads the Consumer Banking and Consumer Finance businesses. He joins IndusInd Bank from Piramal Finance, where he most recently served as CEO – Retail Lending. Previously, he has held leadership positions at Axis Bank (Head – Retail Lending), ICICI Prudential Life Insurance, HDFC Bank, & Kotak Mahindra Prime. Mr. Mallareddy holds an MBA from Andhra University and a B. Com (Hons) from Osmania University.
∙ Mr. Ganesh Sankaran, Head – Wholesale Banking Group at IndusInd Bank
A seasoned banking leader with over 30yrs of experience across Wholesale, Retail Credit and SME, Mr. Ganesh Sankaran will develop Bank’s strategy and business in areas like Corporate Banking, Institutional Banking including PSU & Govt Banking, Gems & Jewellery, SME & Mid Market Group, New Age Economy, Real Estate, Corporate Agri Business, Supply Chain Finance, Transaction Banking and Project & Structured Finance.
Mr. Sankaran has held senior leadership positions at leading private sector Banks, playing a pivotal role in building businesses, driving large-scale business transformations, and delivering consistent performance. His career reflects depth in relationship management, credit and risk, product expertise, and board-level exposure. Prior to joining IndusInd Bank, his major banking career spans across Axis Bank, Federal Bank and HDFC Bank. Mr. Ganesh Sankaran has also served on the boards of Axis Capital, Equirus Capital, and Fedbank Financial Services. He also acted as Executive Director & Board Member at Federal Bank.
∙ Mr. Ravi Pangal – Chief Information Officer
Mr. Pangal brings over 30 years of experience in Finance IT, having led large technology organisations across global banking institutions. His experience spans retail and core banking platforms, enterprise integrations, and large-scale digital transformation programmes. Most recently, he served as Global CIO – Retail Products and Core Banking. He has previously held leadership roles at HSBC, Wipro, Reuters, ANZ Bank and Standard Chartered, and holds a master’s degree in computer applications and a bachelor’s degree in mathematics and statistics from Bharathiar University.
∙ Mr. Saurav Saha – Chief Risk Officer
Mr. Saha brings over 25 years of experience across Indian and international banking. As Chief Risk Officer, he oversees the Bank’s enterprise-wide risk framework, ensuring robust governance, regulatory alignment, and prudent management across credit, market and operational risks. He previously led Financial Risk Management at HDFC Bank and has held senior roles at HSBC, Saudi Awwal Bank, ABN AMRO and CRISIL. Mr. Saha holds a PGDM from IIM Lucknow and a B.Tech in Electronics & Communication Engineering.
∙ Mr. Vasudeva Konda – Head – Global Markets Group
Mr. Konda is a seasoned banker with over 26 years of expertise in Treasury and Risk, having spent more than two decades at ICICI Bank in senior leadership roles. His expertise spans multi currency balance sheet management, liquidity and trading, enterprise risk, ICAAP, and Basel analytics. At IndusInd Bank, he leads the Bank’s Global Markets Group, which includes Treasury, ALM and market-linked client solutions. He holds PGDM degree from IIM, Calcutta (1999) and B.Tech Mech. Engg. degree from IIT, Madras (1994).
∙ Mr. Sunit Madan – Head – Retail Assets
Mr. Madan is a seasoned BFSI leader with over 30 years of experience across retail lending, credit, risk, operations, fraud control and debt management. He leads the Bank’s Retail Asset business. Prior to joining IndusInd Bank, he served as Chief Operating Officer at Piramal Finance and has held senior leadership roles at Axis Bank as EVP – Retail Lending & Payments, as well as at ICICI Prudential Life Insurance, HSBC, Genpact and Tata Communications. Mr. Madan is a Commerce graduate from Osmania University.
∙ Ms. Judy Heredia – Chief Credit Officer
With over 30 years at IndusInd Bank, Ms. Heredia has been instrumental in building and strengthening the Wholesale Banking credit function. In her elevated role, she leads the Bank’s credit function, overseeing underwriting standards, portfolio quality and credit risk governance. Ms. Heredia is a Commerce graduate, CAIIB-certified, and a Financial Risk Manager (FRM).
∙ Mr. Sunil Kumar Singh – Chief Compliance Officer
Mr. Sunil Kumar Singh is a seasoned banker with over 28 years of experience across leading financial institutions. Prior to joining IndusInd Bank, he was associated with Mizuho Bank for over a decade, serving as Chief Compliance Officer for India, and later as Managing Director-II heading the Governance, Risk and Compliance (GRC) function. He has also held key roles at Bank
of America, ICICI Bank, and State Bank of India. He holds an MBA in Finance and is a CAIIB certified professional.
Prior to this, the Bank had appointed Chief Financial Officer, Head – Wholesale Banking Group, General Counsel, Chief Human Resources Officer, Chief Data Officer, Head – Business Transformation, Head – Internal Audit, and Chief Marketing Officer. In addition, the Bank has also recently inducted Mr. Arijit Basu as Chairman.
ABOUT INDUSIND BANK
IndusInd Bank Limited has been redefining banking for the past 32 years and has been a force for progression and innovation, offering an elevated banking experience for its diverse range of stakeholders, including government entities, PSUs, retail customers, and large corporations. The Bank’s product offerings include microfinance, personal loans, debit/credit cards, SME loans, advanced digital banking facilities, affluent and NRI banking services, vehicle financing, and innovative ESG-linked financial products.
The Bank also caters to the growing Indian diaspora with representative offices in Dubai, and Abu Dhabi. As of March 31, 2026, IndusInd Bank serves around 42 million customers through 3,136 branches/banking outlets and 2,870 ATMs, reaching 1.62 lakh villages across India. IndusInd Bank leverages technology through its ‘Digital 2.0’ strategy, ensuring multi-channel delivery and a robust digital infrastructure. In each of its unique offerings that include ‘INDIE’ – the one-stop-shop for all things digital banking; innovation and customer centricity remain at the core. IndusInd Bank holds clearing bank status for major stock exchanges BSE and NSE, settlement bank status for NCDEX, and is an empanelled banker for MCX.
RATINGS
Domestic Ratings:
- CARE A1+ for Certificate of Deposits
- CRISIL A1+ for certificate of deposit program / short term FD programme
- CRISIL AA+ for Infrastructure Bonds program/Tier 2 Bonds
- IND AA+ for Issuer Rating by India Ratings and Research
- IND AA+ for Senior bonds program/Tier 2 Bonds by India Ratings and Research
International Rating:
- Ba1 for Senior Unsecured MTN programme by Moody’s Investors Service
