IndusInd Bank's board approves fundraise of up to Rs 20,000 crore

The bank's board also approved the re-appointment of Akila Krishnakumar as non-executive independent director

IndusInd Bank on Monday said its board has approved the raising of funds, worth up to Rs 20,000 crore, through issuance of debt on a private placement basis.

The sum may also be raised in foreign currencies, subjected to necessary regulatory approvals, the private sector bank said in an exchange filing.

The Board has also approved the re-appointment of Akila Krishnakumar as non-executive independent director, for a period of four years, beginning August 10, 2022.

At present, Krishnakumar serves as the chairperson of the Compensation and Nomination & Remuneration Committee, Customer Service Committee, Vigilance Committee and Corporate Social Responsibility of the IndusInd Bank.

It has also appointed MSKA & Associates as one of the Joint Statutory Auditors of the lender for a period of three years, after receiving approval from the Reserve Bank of India.