Indusind Bank Limited has informed the Exchange regarding Notice of Postal Ballot
INDUSINDBK · price
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IndusInd Bank has issued a postal ballot notice seeking shareholder approval to appoint Mr. Arijit Basu (DIN: 06907779) as Non-Executive Independent Director and Part-time Chairman of the Bank for a three-year period, from January 31, 2026 to January 30, 2029. The appointment follows the end of Mr. Sunil Mehta's term as Part-time Chairman on January 30, 2026, and has already received RBI approval via letter dated January 19, 2026, with the Board appointing Mr. Basu as Additional Director on January 23, 2026. Mr. Basu brings over three decades of banking experience, including his prior role as Managing Director of State Bank of India and as MD & CEO of SBI Life Insurance, and will receive a fixed remuneration of ₹35 lakhs per annum plus sitting fees. The voting will be conducted electronically through NSDL from February 26, 2026 to March 27, 2026, with results to be declared on or before April 1, 2026.
This is a routine leadership transition with RBI pre-approval, so it carries low governance risk. The new Chairman's strong banking pedigree is positive for stability, and since the resolution requires shareholder approval as a Special Resolution, investors should note the e-voting window to participate if desired.