Bandhan Bank Appoints Interim Chief Audit Executive

Bandhan Bank announced the immediate appointment of Mr. Sandip Kumar Bubna as the Interim Chief Audit Executive (CAE) / Head of Internal Audit (HIA). This critical governance role ensures continuity following the resignation of Mr. Navin Sharma from the position.

Board Approves Interim Appointment

Bandhan Bank's Board of Directors, in a meeting held on April 27, 2026, approved the appointment of Mr. Sandip Kumar Bubna. He steps into the role of Interim Chief Audit Executive (CAE) / Head of Internal Audit (HIA). This interim appointment is effective immediately and will last for six months or until a permanent replacement joins. The bank previously informed the market about the resignation of Mr. Navin Sharma on January 14, 2026.

Importance of the Role

The Chief Audit Executive (CAE) is a crucial position responsible for ensuring the integrity of a bank's internal controls, risk management, and regulatory compliance. This role provides independent assurance to the board, helping safeguard the institution from operational and financial risks. A well-functioning internal audit department is fundamental to good corporate governance, especially in the heavily regulated banking sector.

Background on Appointments

Mr. Navin Sharma, who had joined Bandhan Bank as CAE/HIA on May 19, 2025, cited personal reasons for his resignation submitted on January 14, 2026. Prior to Mr. Sharma's tenure, Mr. Mayank Ghoshal served as the interim CAE/HIA from February 05, 2025, for a six-month period. Mr. Sandip Kumar Bubna, the current interim appointee, brings over 15 years of experience in banking internal audits and joined Bandhan Bank in August 2025 to lead Information Systems Audit. He is a Chartered Accountant and holds a Diploma in Information System Audit (DISA) and CISSP certification. Before joining Bandhan Bank, he was a Senior Audit Manager-Information Systems Audit at ICICI Bank.

Ensuring Operational Continuity

Shareholders can be assured that the critical internal audit function will maintain operational continuity during the search for a permanent CAE. The bank is committed to filling this key position with a suitable candidate approved by the Board. This appointment signals proactive management in maintaining governance standards.

Areas to Monitor

No specific risks were highlighted in the filing or identified through searches concerning this interim appointment itself. The primary focus remains on the eventual selection and onboarding of a permanent Chief Audit Executive.

Industry Practice

Major Indian private banks like HDFC Bank, ICICI Bank, and Axis Bank also have established Chief Audit Executive roles as part of their robust governance frameworks. Appointing interim leaders for critical functions is a common practice among these institutions to ensure operational stability during transitions. The banking sector as a whole operates under strict RBI guidelines for internal audit and compliance.

Appointment Details

The period for Mr. Sandip Kumar Bubna's interim appointment is six months or until a new CAE/HIA joins, whichever is earlier. Mr. Navin Sharma's resignation was effective April 13, 2026.

What to Track Next

The bank's progress in identifying and appointing a permanent Chief Audit Executive/Head of Internal Audit. Any further updates from the Board regarding the permanent selection process. Ensuring the smooth handover from Mr. Bubna to the eventual permanent appointee.