Originally published in Mohan, T. (2015). IndusInd Bank: A turnaround story. F&A0529. Indian Institute of Management, Ahmedabad.

In early 2007, Romesh Sobti, Managing Director of the Indian operations of ABN Amro, a Dutch bank that subsequently merged with Royal Bank of Scotland, was approached by the Hinduja Group, the leading shareholders in IndusInd Bank. The Group wanted Sobti and his key colleagues - the heads of operations, wholesale banking, retail banking and risk management - to move to IndusInd Bank and assume the reins of top management. Sobti and his colleagues carefully pondered the offer. IndusInd bank was in poor shape. At the same time, having spent over 25 years in banking, the team sensed that they had been presented an entrepreneurial opportunity. Before taking the plunge, however, they needed to figure out what the problems at the bank were. They also needed to have a clear plan of action for turning around the troubled bank.

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