IndusInd Bank CEO Sumant Kathpalia resigns amid derivatives accounting lapse

Kathpalia is the second top executive to resign in two days after his deputy Arun Khurana exited on Monday.

A management transition and a wider reshuffle is expected in the bank over the next few days and weeks, according to four sources aware of the development.

The Reserve Bank of India (RBI) urged Kathpalia and Khurana to step down following the accounting lapses, Reuters had reported in March.