IndusInd's New CEO Seeks to Cut Risks in Revamp

Anand Has Asked Division Heads to Flag Lapses and Submit Improvement Plans for a New Three-Year Plan

- Bloomberg

IndusInd Bank Ltd's new chief is moving quickly to reduce risks on its loan book, according to people familiar with the matter, as he seeks to restore investor confidence after a series of governance lapses at the Indian lender.

In recent one-on-one meetings, chief executive officer Rajiv Anand has asked division heads to identify lapses in their businesses and submit improvement plans as part of a new three-year roadmap to revitalize the Mumbai-based lender, the people said, asking not to be identified as the discussions are private.

It's also seeking to diversify the bank's loan book and reduce reliance on large deposits, they said.