| | OCTOBER 20258IndusInd Bank declares the hiring of Viral Damania as its new CFO. The position had been unfilled since January after whistleblower CFO Gobind Jain resigned. Damania's recruitment signifies one of the initial important appointments under Rajiv Anand, who assumed the corner office role fewer than thirty days ago.Damania, a finance expert with more than 27 years of experience in banking and professional services, was most recently the CFO of Bank of America India, where he managed both the bank branch and BofA Securities India. He has additionally been employed by Citibank NA in India, Bangladesh, and Sri Lanka, along with PricewaterhouseCoopers.With his appointment, the extra responsibilities given to Santosh Kumar as special officer - finance & accounts, and his role as a key managerial individual, will end immediately. Kumar will remain in his role as Deputy CFO of the bank.The appointment of Damania underscores the bank's continuous endeavors to enhance its leadership team and financial management capabilities; however, it's significant to mention that IndusInd Bank's shares have drastically declined this year, with the stock priced at 734 on September 22, 2025, a decrease of 235 or roughly 24.27 percent year-to-date.The price has consistently decreased from its initial 2025 levels, when it momentarily hit approximately 1,100, and is now significantly nearer to its 52-week low of 606 than to its 52-week high of 1,490.Last month, the bank has signed a Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC), a Government of India entity operating under the Ministry of MSME.The MoU was signed in New Delhi with dignitaries present, such as Jitan Ram Manjhi, Union Minister of MSMEs; S.C.L. Das, IAS, Secretary of MSME; Mercy Epao, Joint Secretary of MSME; Dr. Subhransu Sekhar Acharya, NSIC Chairman & MD; Gaurav Gulati, NSIC Director of Finance; and V. Raghunath, EO to CMD, DGM Finance. The stock trading platform Dhan has declared Ketan Shah as the Chief Executive Officer (CEO) of Omni Channel Business. Shah has more than 25 years of extensive experience in the stock broking sector, encompassing business, technology, distribution, revenue, and strategy.He becomes part of Dhan's leadership team to develop and expand its omni-channel operations along with the distribution of investment and trading products and various financial services.Prior to joining Dhan, Shah played an important role at Angel One (previously Angel Broking) for more than 25 years. He participated in its initial development, transition to a digital enterprise, public offering, and expansion to rank among the top 3 brokerage platforms in India. Most recently, he held the position of Chief Strategy Officer and Board Member at Angel One.Based in Mumbai, Raise Financial Services manages multiple platforms, such as Dhan, a trading platform for investors and traders; Upsurge, an educational platform for finance and markets in India; ScanX, which delivers market insights and intelligence for public market investors; and FilterCoffee, providing financial media.Established in January 2021 by Pravin Jadhav, Alok Pandey, Jay Prakash Gupta, and Raunak Rathi, Dhan secured $22 million in its latest funding round in January 2022. BEENEXT, Mirae Asset, 3one4 Capital, and Rocketship.vc are its key investors. The company was said to be discussing a significant funding round.Last September, Dhan overtook Paytm Money to break into the top 10, vying in a competitive landscape with rivals like Groww, Zerodha, AngelOne, Upstox, Paytm Money, and PhonePe's Share.According to the most recent NSE statistics, Dhan achieved the 9th position among stock brokers in August, holding a 2.15 percent market share and serving 1 million clients. INDUSIND BANK APPOINTS VIRAL DAMANIA AS CFODHAN NAMES KETAN SHAH AS CEO OF OMNICHANNEL BUSINESSIN FOCUSIN FOCUS
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