IndusInd Bank has appointed Viral Damania as its new Chief Financial Officer (CFO), effective from September 22, 2025. This appointment comes at a critical time for the bank, following accounting discrepancies related to internal derivative trades earlier this year.

Professional Background & Role

Damania brings over 27 years of experience in banking and financial services. He was most recently the CFO for Bank of America India and has also held senior roles at Citibank North America, BofA Securities India, and other major financial institutions.

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Transition and Previous Interim Leadership

Prior to his appointment, Santosh Kumar was handling the duties of CFO in a temporary capacity as “Special Officer-Finance & Accounts”. He will now continue as Deputy CFO. The bank had earlier seen resignations in its senior leadership: Gobind Jain (CFO) quit in January, and later, Arun Khurana, who was acting both as Deputy CEO and also taking CFO responsibilities, was relieved of that role.