Banking News

Rajiv Ranjan appointed VP and CRO of New Development Bank

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Rajiv Ranjan, Executive Director at the Reserve Bank of India (RBI), has been appointed as Vice President and Chief Risk Officer of the New Development Bank (NDB) for a five-year term. A career central banker with over 35 years of experience, Ranjan is expected to assume charge in September. Since May 2022, he has served as a member of the RBI's Monetary Policy Committee.

His prior roles at the RBI include heading the Monetary Policy Department and the Department of Economic and Policy Research. He has also worked with the Central Bank of Oman and represented India in multilateral institutions such as the G20, IMF, World Bank, BIS, and OECD.

The NDB, established by BRICS nations, said Ranjan's appointment brings strategic value as the bank deepens its engagement with the Global South and enhances risk management capabilities across emerging economies.

Rajiv Anand takes charge as CEO of IndusInd Bank

Veteran banker Rajiv Anand has officially taken over as the Managing Director and Chief Executive Officer of IndusInd Bank. The appointment, previously announced earlier this month, comes at a critical time as the bank seeks to rebuild investor confidence after a $230 million loss caused by misaccounting of internal derivative trades.

This incident had prompted the resignation of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana in April. Anand, who brings decades of experience in leadership roles, was formerly Deputy Managing Director at Axis Bank.

He is expected to steer the bank through its current challenges and strengthen its governance and compliance framework. The bank confirmed his appointment in a regulatory filing, expressing confidence in Anand's ability to drive long-term growth and stability.

India Exim Bank signs $40 million credit line with EBID