On May 28 2025, The Securities and Exchange Board of India (SEBI) barred former IndusInd Bank Chief Executive Officer (CEO) Sumant Kathpalia and four other senior officials of IndusInd Bank from trading in the securities market, following allegations of insider trading.
- The other executives named in the order are Arun Khurana (former executive director and deputy Chief Executive Officer (CEO)), Sushant Sourav (head of Treasury operations), Rohan Jathanna (head of GMG operations), and Anil Marco Rao (chief administrative officer for consumer banking operations).
Key issue:
i.The action follows an investigation into alleged trades in IndusInd Bank shares made while the executives were in possession of Unpublished Price-Sensitive Information (UPSI).
- The UPSI pertained to a Master Direction issued by the Reserve Bank of India (RBI), which had a significant impact on the bank’s operations.
- The regulator found the bank internally estimated rising derivative losses from Rs. 1,572 crore to Rs.2,361 crore and shared them with the RBI between December 2023 and May 2024.
- But this information was made public only much later, via a stock exchange disclosure on March,2025.
ii.SEBI’s preliminary findings suggest the senior officials were aware of the financial implications of the RBI directive before it was made public.
- Despite this, they executed trades in the company’s shares, raising concerns over misuse of confidential information.
- The markets regulator also directed them to disgorge a total of ₹19.78 crore.
JioBlackRock Asset Management receives SEBI nod for mutual funds business in India, appoints MD & CEO:
Jio BlackRock Asset Management (AMC) has received the final approval from the Securities and Exchange Board of India (SEBI) to start a Mutual Fund (MF) business.
- JioBlackRock AMC also announced the appointment of Sid Swaminathan as it’s Managing Director and Chief Executive Officer (CEO).
Key Highlights:
i.Jio BlackRock Asset Management, a 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock.
- On October 4, 2024, SEBI had granted in-principle approval to Jio Financial Services and BlackRock Financial Management Inc to act as co-sponsors and set up the proposed mutual fund.
About Sid Swaminathan:
i.Swaminathan has over 20 years of asset management experience.
- He was previously Head of International Index Equity at BlackRock, where he was responsible for an Asset Under Management (AUM) of USD 1.25 trillion.
- Prior to that, he served as the Head of Fixed Income Portfolio Management for Europe at BlackRock, responsible for Systematic and Indexed strategies.
About IndusInd Bank Limited:
Headquarters – Mumbai, Maharashtra
Established – 1994
Tagline – We make you feel richer
