Key Highlights :
1. The Reserve Bank of India (RBI) has given a two-year extension to IndusInd Bank's CEO, Sumanth Kathpalia, instead of the three years that were originally proposed.
2. This has surprised analysts and investors, and the stock has fallen 7.46% on Monday.
3. JP Morgan has downgraded the private sector bank to neutral and reduced its target price to ₹ 1,060 per share.
4. The investors are asking whether the central bank is comfortable with Kathpalia as the MD and CEO.
5. Macquarie research said the investors are asking whether the central bank is comfortable with Kathpalia as the MD and CEO.
The Reserve Bank of India (RBI)’s decision to give a two-year extension to IndusInd Bank’s chief executive officer Sumanth Kathpalia, instead of three years, has surprised analysts and investors. Brokerage JP Morgan has downgraded the private sector bank to neutral and reduced its target to ₹ 1,060 per share.
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