Senate Democrats are forcing a vote Wednesday evening on whether to block global tariffs announced by Donald Trump earlier this month, a potentially tough vote for some Republicans who have expressed concerns about the policy but are wary of crossing the president.
IndusInd Bank faces uncertainty as CEO Sumant Kathpalia resigned following a 1,960-crore loss due to derivatives discrepancies, raising concerns about delayed recovery and business disruptions. Analysts suggest appointing a private-sector banker as the new CEO to navigate challenges in key portfolios like vehicle finance and microfinance. The bank's asset quality is under pressure, with rising non-performing assets.
Following CEO Sumant Kathpalia's resignation amid derivatives portfolio discrepancies, the RBI has approved IndusInd Bank's interim "committee of executives," including Soumitra Sen and Anil Rao, to manage daily operations. This committee will function under board oversight until a new CEO is appointed or for a maximum of three months.
