MUMBAI: IndusInd Bank‘s board has decided to appoint an external agency to conduct a comprehensive investigation into discrepancies identified in its derivative portfolio.On March 10, the bank disclosed that there was an ongoing review by an external agency regarding certain discrepancies in its account balances related to derivative transactions. The bank said any resultant impact…
The Reserve Bank of India (RBI) reassured depositors and stakeholders about IndusInd Bank’s financial health, saying that the bank is well-capitalised and remains stable despite ongoing concerns.In a statement released on Saturday, the central bank said, “The Reserve Bank would like to state that the bank is well-capitalised and the financial position of the bank…
NEW DELHI: Chartered accountants’ apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting estimated to be Rs 2,100 crore.The private sector lender, on March 10, disclosed some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35% of the bank’s net worth…
NEW DELHI: Chartered accountants’ apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting estimated to be Rs 2,100 crore. The private sector lender, on March 10, disclosed some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35 per cent of the…
Multiple brokerages have reduced their ratings and price targets. IndusInd Bank’s shares dropped 20% on Tuesday, reaching a new 52-week low of Rs 720.50. Multiple brokerages have reduced their ratings and price targets following the discovery of accounting irregularities in the bank’s forex derivatives portfolio. On the BSE, IndusInd Bank’s shares plunged 22.8 per cent,…
Private bank, IndusInd Bank on Monday said that it expects a 2.35% decline in its net worth by December 2024, following discrepancies uncovered during an internal review of its accounts, reported news agency Reuters.The bank stated in a stock exchange filing that it has appointed a reputable external agency to independently review and validate the…
MUMBAI: Reserve Bank of India (RBI) has approved the reappointment of Sumant Kathpalia as MD and CEO of IndusInd Bank for one year, instead of the three-year term recommended by the bank’s board. This is the second time the regulator has shortened his tenure from what was initially proposed by the bank’s board.In a filing…