On Wednesday, IndusInd Bank announced that its board has approved plans to raise up to ₹30,000 crore through a mix of equity and debt instruments. This strategic move comes as the bank navigates through a period of uncertainty, following accounting discrepancies and the abrupt departure of its CEO.
In a significant development, the Reserve Bank of India (RBI) has also given the green light for the bank’s promoter group, the Hinduja Group, to nominate two directors to the board. To formalize this change, IndusInd Bank will amend its Articles of Association, enabling the promoters to collectively nominate up to two board members.
These measures aim to restore confidence and strengthen the governance structure of the private lender.
