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Latest news about Indusind Bank

IndusInd Bank Unveils 'Indie For Business' Platform to Empower 60 Million MSMEs 14 hours ago Yesterday

IndusInd Bank has introduced 'Indie For Business', a digital platform aimed at serving over 60 million Micro, Small, and Medium Enterprises (MSMEs) in India. The platform is designed to offer comprehensive digital banking services tailored for MSMEs, potentially including easy account management, simplified lending processes, digital payment solutions, and financial advisory services. This initiative is expected to improve access to banking services, enhance financial inclusion, increase operational efficiency, and support growth for MSMEs across the country.

IndusInd Bank Shortlists Three Candidates for MD and CEO Position 3 days ago

IndusInd Bank Probes Potential Rs 6,000-7,000 Crore Improper Lending in Microfinance Portfolio 7 days ago

IndusInd Bank Sees Surge in FII Stake Despite Recent Challenges Jun 19, 2025

IndusInd Bank Shares Upgraded to 'Buy' by Nomura Amid Governance Improvements Jun 19, 2025

More news about Indusind Bank

16Jun 25

NFRA Scrutinizes IndusInd Bank's Auditors, Issues Notices

The National Financial Reporting Authority (NFRA) has issued notices to the auditors of IndusInd Bank, a major private sector lender in India. This action signals potential concerns over the bank's auditing process. While specific details of the alleged discrepancies or non-compliance have not been disclosed, this development could have significant implications for IndusInd Bank and may lead to increased regulatory attention.

16Jun 25

NFRA Launches Probe into IndusInd Bank Auditors Over Accounting Irregularities

The National Financial Reporting Authority (NFRA) has launched an investigation into IndusInd Bank's current and former auditors, focusing on possible accounting irregularities in the bank's derivatives book. NFRA has requested audit files dating back to 2017, aiming to scrutinize the auditors' role in potentially overlooking or failing to detect accounting issues. The probe could have significant implications for IndusInd Bank, including increased regulatory scrutiny and potential impact on investor confidence.

09Jun 25

SEBI Expands Probe into IndusInd Bank Beyond Insider Trading

SEBI is broadening its investigation into IndusInd Bank, examining compliance issues, disclosure lapses, and potential market restrictions. The regulator may issue 3-4 more orders against the bank. SEBI has also clarified that a key document in the insider trading case is an 'engagement note', not a 'board note'. Despite the probe, the RBI Governor states that IndusInd Bank's issues don't pose a systemic risk to the banking sector. The bank has undergone leadership changes, with the CEO resigning over financial irregularities, and the Hinduja Group has been asked to remain uninvolved during the ongoing situation.

08Jun 25

SEBI Clarifies 'Engagement Note' in IndusInd Bank Insider Trading Case

SEBI has issued a corrigendum to its May 28, 2025 interim order in the ongoing insider trading case involving IndusInd Bank. The regulator replaced the term 'board note' with 'engagement note' regarding KPMG's appointment in February 2024. This change is part of SEBI's ongoing examination of the bank's board's role in the insider trading case.

06Jun 25

IndusInd Bank Addresses Governance Issues, Reports ₹2,328.9 Crore Net Loss

IndusInd Bank reported a net loss of ₹2,328.9 crore for the quarter, a 266.08% decrease from the previous quarter's profit. The RBI confirmed the bank has implemented measures to enhance accounting and internal practices, addressing earlier discrepancies. SEBI barred five key management personnel from trading in securities. Despite the loss, the bank's shares gained 5% on June 6, possibly due to governance improvement efforts.

06Jun 25

RBI Governor Commends IndusInd Bank's Performance and Accounting Practices

The Reserve Bank of India (RBI) Governor has expressed satisfaction with IndusInd Bank's performance and accounting practices. The Governor stated that sufficient measures have been taken concerning the bank's accounting practices, signaling confidence in the private sector lender's operations and financial health. This endorsement comes as IndusInd Bank reports significant year-on-year growth across key financial metrics, including a 23.81% increase in revenue and a 21.11% rise in net profit.

05Jun 25

RBI Sets Conditions for Hinduja Group's Capital Infusion into IndusInd Bank

The Reserve Bank of India (RBI) has outlined specific conditions for the Hinduja Group to inject fresh capital into IndusInd Bank. The promoters must revoke the existing pledge on their 15.83% shareholding, of which 51% is currently pledged, and appoint a representative to the bank's board. This comes as IndusInd Bank faces financial challenges, including a forensic audit and a ₹2,000 crore reduction in net worth due to accounting irregularities.

05Jun 25

IndusInd Bank Enhances Digital Banking with Revamped 'Indie' App

IndusInd Bank has introduced an enhanced version of its 'Indie' mobile banking application, aiming to transform the digital banking experience for its over 15 million retail customers. The upgraded app is part of the bank's digital transformation strategy, although specific new features have not been disclosed. This move aligns with the broader trend of digital innovation in the banking sector, focusing on improved customer service and engagement through technology.

03Jun 25

IndusInd Bank Promoters Explore Fresh Capital Infusion, in Talks with Long-Term Investors

IndusInd Bank's promoters are in preliminary talks with potential long-term investors, including sovereign wealth funds and pension funds, to raise fresh capital through new share issuance. This move could strengthen the bank's capital base, foster long-term partnerships, boost market confidence, and enhance regulatory compliance. The discussions are still in early stages, with no official announcement from the bank yet.

29May 25

Government Pushes for 'Fair and Independent' Probe in IndusInd Bank Insider Trading Case

Sebi has prohibited former IndusInd Bank executives, including ex-CEO Sumant Kathpalia, from trading in securities due to alleged insider trading. The executives are accused of possessing information about ₹1,529 crore accounting discrepancies for over a year before public disclosure. Sebi has impounded ₹19.80 crore and is continuing its investigation. The government has called for a thorough probe, advising the bank's board to file a police complaint. Potential penalties could reach up to ₹25 crore or three times the gains made, whichever is higher.

28May 25

SEBI Bans Former IndusInd Bank CEO and Four Others from Securities Market

SEBI has barred former IndusInd Bank CEO Sumant Kathpalia and four other senior officials from dealing in the securities market due to an ongoing insider trading investigation. The regulator has impounded 197.80 million rupees and prohibited these individuals from buying, selling, or dealing in shares until further notice. SEBI has committed to completing the investigation expeditiously.

27May 25

IndusInd Bank Under Regulatory Spotlight as NFRA Probes Forex Derivative Audit Lapses

IndusInd Bank faces regulatory scrutiny following a complaint to the NFRA about alleged audit lapses in its forex derivative portfolio. An internal review revealed irregularities spanning 7-8 years with a potential post-tax impact of Rs 1,600 crore. Management changes include resignations and dismissals. The bank reported a consolidated net loss of Rs 2,329 crore. The situation highlights the importance of robust audit practices in the banking sector.

26May 25

IndusInd Bank Officials Exit Amid Accounting Discrepancies; Bharat Financial Inclusion Executive Vice Chairman Resigns

IndusInd Bank has asked two officials handling loan data to leave following the discovery of significant accounting gaps in its microlending business. J Sridharan, Executive Vice Chairman of Bharat Financial Inclusion, a microfinance subsidiary of IndusInd Bank, has also resigned. These developments raise concerns about the accuracy of the bank's financial data in its microlending segment and may lead to increased scrutiny from investors and regulators.

23May 25

IndusInd Bank's Recovery Hinges on New Leadership and Addressing Concerns

IndusInd Bank's stock valuation has dropped from 1.50 to 0.80-0.70 times book value due to investor concerns. The bank's recovery depends on the stability of new management and resolution of accounting irregularities. Analysts advise investors to wait for clarity on new management plans and assurances on financial health before considering the stock.

23May 25

IndusInd Bank Stock Rebounds Despite First Quarterly Loss in Two Decades

IndusInd Bank reported a net loss of ₹2,236.00 crore in Q4 FY2025, its first quarterly loss in 20 years. Despite this, the bank's shares rebounded by 1.8% to ₹785 after an initial drop. Revenue decreased by 22.83% to ₹11,342.70 crore. Analysts have raised concerns about governance issues, asset quality, and CEO succession, leading to reduced earnings estimates. The bank faces challenges in regaining investor confidence and returning to profitability.

22May 25

SEBI Launches Probe into Alleged Major Violations at IndusInd Bank

The Securities and Exchange Board of India (SEBI) has initiated an investigation into IndusInd Bank, one of India's leading private sector banks, for significant alleged violations. The specific nature of these violations remains undisclosed. Neither SEBI nor IndusInd Bank has provided detailed information about the investigation. This development may have potential implications for the bank's reputation and operations. IndusInd Bank has not yet issued a public statement regarding the reported investigation.

22May 25

IndusInd Bank's Parent Company Pledges Equity Support, Boosting Confidence

The chairman of IndusInd International Holdings Ltd (IIHL), the parent company of IndusInd Bank, has pledged to provide financial support through equity infusion if needed. This commitment enhances the bank's financial stability, potentially boosting investor confidence and positioning the bank for growth opportunities. The backing is expected to help maintain healthy capital adequacy ratios and strengthen the bank's market position.

22May 25

IndusInd Bank: Sebi Investigates 'Egregious Violations' Amid Governance Concerns and CEO Search

IndusInd Bank is under intense scrutiny following the discovery of a Rs 3,400 crore accounting fraud, resulting in a net loss of Rs 2,329 crore. Sebi has launched an investigation into potential securities market violations. The bank's board is facing governance concerns and is actively searching for a new CEO with a clean image. Despite these challenges, Ashok Hinduja, Chairman of IndusInd International, has expressed strong support for the bank's board and core business.

22May 25

IndusInd Bank Reports Significant Q4 Net Loss Amid Accounting Challenges

IndusInd Bank posted a net loss of ₹22.00 billion in Q4, compared to a profit of ₹23.49 billion in the same period last year. Revenue declined to ₹106.00 billion from ₹122.00 billion year-over-year. Net Interest Income decreased to ₹30.48 billion from ₹53.76 billion. The bank's GNPA rose to 3.13% from 2.25%, while NNPA increased to 0.95% from 0.68%. The loss is attributed to accounting lapses in derivatives and the microfinance portfolio. Management has acknowledged the issues and committed to addressing them.

22May 25

IndusInd Bank Reports Q4 Loss and Significant Corporate Loan Book Decline

IndusInd Bank has reported a net loss of ₹2,328.00 crore in Q4, along with a 15.7% quarter-on-quarter decline in its corporate loan book. The bank reversed ₹423.00 crore in microfinance revenue and recognized ₹3,509.00 crore in microfinance slippages. A reversal of ₹1,960.00 crore was made due to derivative transaction discrepancies. The bank's net interest margin fell to 2.25% from 4.26% year-on-year. Major brokerages have reduced the bank's target price, and analysts have cut EPS estimates by 41-43% for FY26 and FY27.

21May 25

IndusInd Bank Addresses Accounting Irregularities and Prepares for Leadership Change

IndusInd Bank is facing challenges due to significant accounting irregularities in its derivatives and microfinance portfolios. The bank's chairman has acknowledged these issues, which involve senior officials and former key management. In response, the bank is addressing governance lapses, tightening internal controls, and implementing staff accountability measures. Simultaneously, IndusInd Bank is in the advanced stages of selecting a new CEO, with recommendations to be submitted to the RBI before June 30, 2025. The bank aims to start fiscal year 2026 with a 'clean slate', focusing on transparency and improved governance.

21May 25

IndusInd Bank Uncovers Accounting Irregularities, Suspects Fraud and Employee Involvement

IndusInd Bank has discovered accounting and financial reporting irregularities in its microfinance business, including the incorrect recording of 1.73 billion rupees as fee income over three quarters. The bank has reversed these entries and initiated an investigation. The board has directed steps to fix accountability and investigate internal derivative trades. While the bank has reflected known discrepancies in its quarterly results, the full extent of the irregularities is still under investigation.

21May 25

IndusInd Bank Faces Multi-Faceted Crisis and Leadership Transition

IndusInd Bank is grappling with derivatives discrepancies, microfinance accounting issues, and insider trading allegations. The bank's Deputy CEO and MD & CEO have resigned, with a new CEO selection in progress. Financial discrepancies of Rs 1,960 crore in derivatives and Rs 1,269 crore in accounting have been uncovered. Multiple investigations are ongoing. Despite challenges, Q3 FY2024 showed mixed results with a 39.07% decline in net profit but an 8.50% increase in total revenue. The bank's balance sheet indicates growth in total assets and equity.

21May 25

IndusInd Bank Reports Q4 Net Loss of Rs 2,236 Crore, NII Down 43%

IndusInd Bank has reported a net loss of Rs 2,236.00 crore in Q4, a stark contrast to the Rs 2,346.00 crore profit in the same quarter last year. The bank's Net Interest Income (NII) fell by 43% to Rs 3,048.00 crore, while interest income decreased by 13% to Rs 10,634.00 crore. The significant loss is primarily attributed to the derivatives segment. The bank's NII fell short of market expectations of Rs 4,762.00 crore.

20May 25

IndusInd Bank Sets Date for Q4 FY25 Results, Potential Dividend on the Horizon

IndusInd Bank will hold a board meeting on May 21, 2025, to approve Q4 and FY25 financial results and consider dividend recommendation. An earnings call is scheduled for 5:30 PM the same day. The trading window for the bank's securities will be closed from March 26 to May 23, 2025.

20May 25

SEBI Probes Six IndusInd Bank Officials for Alleged Insider Trading

SEBI is investigating six IndusInd Bank officials for potential insider trading related to the sale of employee stock options before the disclosure of a ₹1,897 crore accounting discrepancy. A forensic review by Grant Thornton suggests two executives traded shares with knowledge of irregularities. This probe raises questions about the bank's internal controls and corporate governance practices.

19May 25

IndusInd Bank Faces Potential Q4 Loss Amid Accounting Challenges

IndusInd Bank anticipates reporting a net loss of Rs 410.85 crore due to accounting discrepancies and recent leadership departures. The bank's financial outlook is impacted by a Rs 1,960.00 crore hit from derivatives portfolio inconsistencies and two newly discovered accounting errors totaling Rs 1,269.00 crore. Despite challenges, Net Interest Income is expected to reach Rs 5,030.00 crore, with a Net Interest Margin of 3.96%. The exit of both CEO and deputy CEO adds to the bank's difficulties, potentially affecting investor confidence and strategic direction.

19May 25

IndusInd Bank Partners with AIC STPINEXT to Boost Early-Stage Startups and MSMEs

IndusInd Bank has signed an agreement with AIC STPINEXT to provide comprehensive financial solutions for early-stage startups and MSMEs in India. The partnership offers a specialized Current Account with no quarterly average balance requirement, expert guidance, skill development workshops, and free value-added services like payroll and attendance management. This collaboration aims to create a supportive environment for entrepreneurs by eliminating financial burdens and enhancing their business management skills.

19May 25

IndusInd Bank Faces Downgrade and SEBI Probe Amid Accounting Concerns

IndusInd Bank is under scrutiny as SEBI investigates six officials for alleged insider trading related to stock option sales. Simultaneously, ICICI Securities has downgraded the bank's stock from 'Hold' to 'Sell', reducing the price target to ₹650. The downgrade follows revelations of a ₹674 crore inflated interest income in the microfinance segment, a ₹2,000 crore derivative loss, and leadership instability. ICICI Securities projects subpar growth and profitability for the bank from FY2025 to FY2027.

19May 25

IndusInd Bank Partners with AIC STPINEXT to Boost India's Startup Ecosystem

IndusInd Bank has signed a Memorandum of Understanding (MoU) with AIC STPINEXT to support and nurture innovative startups in India. This partnership aims to create a conducive environment for startups by combining IndusInd Bank's financial expertise with AIC STPINEXT's incubation and mentorship capabilities. The collaboration will provide startups with essential resources, guidance, and access to tailored financial services. This initiative is expected to contribute significantly to the development of India's startup ecosystem and aligns with the national agenda of promoting entrepreneurship and innovation.

17May 25

IndusInd Bank Faces Potential Q4 Loss Amid Accounting Issues and Leadership Changes

IndusInd Bank is expected to report a significant net loss in Q4 due to a ₹1,960.00 crore one-time charge related to accounting issues in its derivatives portfolio. The bank is currently led by a committee following the CEO's resignation. An internal review of its microfinance business is ongoing after a whistleblower complaint revealed ₹595.00 crore in unsubstantiated balances. Despite these challenges, Q3 results showed positive trends with a 5.33% YoY increase in net profit to ₹1,402.30 crore and 1.91% growth in total revenue to ₹15,155.80 crore.

16May 25

IndusInd Bank Braces for Rs 3,000 Crore Accounting Hit in Q4 Results

IndusInd Bank is expected to report a cumulative accounting impact of up to Rs 3,000 crore in its Q4 results due to irregularities in interest income recording and its derivatives book. This comes amid recent financial data showing revenue growth but declining net profit. The bank also faces management succession challenges following the CEO's resignation. Analysts anticipate significant effects on the bank's financial statements and are considering potential downgrades in their estimates.

16May 25

IndusInd Bank: Internal Audit Reveals Rs 595 Crore Discrepancy in 'Other Assets' and Accounting Irregularities

IndusInd Bank has disclosed significant accounting irregularities, including ₹595.00 crore in unsubstantiated balances and ₹674.00 crore incorrectly recorded as interest income. The CEO and Deputy CEO have resigned. The bank has hired Grant Thornton for a forensic audit and is taking steps to strengthen internal controls. These issues follow previous accounting lapses in the bank's derivatives portfolio.

15May 25

IndusInd Bank Uncovers Accounting Irregularities in MFI Business

IndusInd Bank's Internal Audit Department (IAD) report uncovered accounting irregularities in its Microfinance Institution business. Approximately ₹674.00 crore were incorrectly recorded as interest over three quarters, and unsubstantiated balances of about ₹595.00 crore were identified in 'Other Assets' accounts. The bank's board has initiated measures to strengthen internal controls and is investigating the roles of key employees involved.

15May 25

IndusInd Bank Faces New Accounting Probe Amid Leadership Changes

IndusInd Bank's internal audit department is investigating past accounting practices following a whistleblower complaint. The bank expects to make a provision of Rs 1,960.00 crore in Q4. Both CEO and deputy CEO have resigned. Despite challenges, Q3 FY2024 saw revenue growth of 8.50% YoY, but net profit declined by 39.07%. Total assets increased by 12.48% to Rs 514,935.00 crore.

12May 25

IndusInd Bank Faces Scrutiny Over ₹2,000 Crore Derivative Accounting Discrepancy Amid Insider Trading Probe

IndusInd Bank is dealing with a ₹2,000 crore discrepancy in derivative accounting and a potential insider trading investigation. Auditors are seeking clarification on whether the accounting mismatch constitutes fraud. The bank's board is examining an audit report suggesting possible insider trading and is taking steps to address accountability. Despite these issues, IndusInd Bank reported a 5.73% increase in net profit to ₹1,401.30 crore for Q3 FY2024. The bank's shares gained over 2% after a two-day decline, indicating cautious investor optimism.

09May 25

IndusInd Bank Addresses Allegations of Insider Trading by Former Officials

IndusInd Bank has responded to allegations of insider trading involving former officials, as reported in a news item titled 'Audit Firm Hints at Insider Trading by Former IndusInd Bank Officials'. The bank is currently examining the findings presented in the report and has committed to taking necessary actions in accordance with applicable laws and regulations. The investigation is ongoing, and no definitive conclusions have been drawn yet.

09May 25

IndusInd Bank: Crisil Places Long-Term Debt on Rating Watch Negative Amid Governance Concerns

IndusInd Bank is grappling with significant challenges as Crisil Ratings places its long-term debt instruments on rating watch with negative implications. The bank faces scrutiny over a Rs 1979.00 crore loss linked to mis-accounted internal derivative trades, with an audit report identifying areas needing further investigation. An independent probe by Grant Thornton has uncovered potential governance issues involving top executives, including allegations of trading bank shares before disclosing accounting lapses and deletion of relevant communications. The cumulative adverse impact on the bank's profit and loss statement is Rs 1959.98 crore as of March 2025.

08May 25

IndusInd Bank Sees Major Block Trade: 1.5 Million Shares Change Hands

IndusInd Bank witnessed a significant block trade on the NSE, with 1,511,486 shares sold at Rs. 829.80 per share, totaling Rs. 125.42 crores. The bank's financials show strong growth with total assets up 12.51% to Rs. 515,094.00 crores and total equity up 14.91% to Rs. 63,207.60 crores year-on-year. Investments increased by 28.18%, while current assets decreased by 23.95%. The block trade represents a small fraction of the bank's total outstanding shares, with the share capital at Rs. 778.30 crores.

08May 25

IndusInd Bank: Executive Misconduct and Accounting Lapses Lead to Rating Watch

IndusInd Bank is under increased scrutiny due to executive misconduct and accounting irregularities. A forensic review revealed former CEO and deputy traded shares with knowledge of accounting lapses. The bank faces a ₹1,915.34 crore balance sheet discrepancy. CRISIL Ratings has placed the bank's long-term debt ratings on 'Rating Watch with Negative Implications'. An internal audit of the bank's microfinance portfolio is ongoing. Despite challenges, the bank maintains stable financials with growth in total assets and equity, but a decrease in current assets.

06May 25

IndusInd Bank Under Scrutiny: Investigations Loom Following Management Shakeup

IndusInd Bank is undergoing intense scrutiny following top management departures and a Grant Thornton report. Multiple departments, including Treasury, Audit, Risk Management, and Operations, are facing potential investigations. The bank is currently subject to statutory, concurrent, and forensic audits, signaling a period of significant internal review.

03May 25

IndusInd Bank Faces ₹1,960 Crore Write-Down, Engages Legal Counsel Amid Accounting Discrepancies

IndusInd Bank has engaged Cyril Amarchand Mangaldas to provide legal counsel following a ₹1,960 crore write-down due to accounting discrepancies in its derivatives portfolio. The law firm will review communications related to the accounting gaps and advise on potential legal implications. Despite this challenge, IndusInd Bank's Q3 FY2024 results show resilience, with a 5.73% increase in net profit to ₹1,401.30 crore and a 1.89% rise in total revenue to ₹15,151.00 crore.

02May 25

IndusInd Bank CEO Resigns Amid ₹1,959.00 Crore Accounting Irregularity

IndusInd Bank's CEO, Sumant Kathpalia, has resigned following the discovery of a ₹1,959.00 crore loss due to accounting irregularities in internal derivative trades. The RBI has approved an interim leadership team. The bank's stock has dropped 25% in response. Forensic audits by EY and PwC are underway, and concerns about the bank's microfinance portfolio have emerged. This situation highlights the importance of robust internal controls in the banking sector.

01May 25

IndusInd Bank CEO Resigns Amid ₹1,960 Crore Forex Derivatives Accounting Discrepancies

IndusInd Bank faces a leadership crisis as CEO Sumant Kathpalia resigns following the disclosure of a ₹1,960 crore loss in the bank's forex derivatives portfolio. The bank is experiencing a leadership exodus, with recent departures of the Deputy CEO and CFO as well. This has led to market uncertainty, with traders creating bearish derivative bets and a 7% open interest build-up. Analysts warn of potential business disruptions and deposit outflows. The accounting discrepancy has raised concerns about asset quality and risk management practices. Despite recent strong growth, with revenue increasing by 23.81% YoY to ₹55,144.00 crore in March 2024, the bank now faces regulatory scrutiny and governance issues.

30Apr 25

IndusInd Bank CEO Resigns, Interim Leadership Committee Formed

IndusInd Bank's MD and CEO, Sumant Kathpalia, has resigned citing moral responsibility for issues related to a derivatives discussion. The bank has formed a Committee of Executives, comprising Soumitra Sen and Anil Rao, to oversee operations for up to three months. An Oversight Committee of the Board has also been established. The interim leadership structure, approved by the RBI, aims to ensure stability and continuity in bank operations until a new CEO is appointed.

30Apr 25

IndusInd Bank CEO Resigns, Interim Committee Formed Amid Profitability Challenges

IndusInd Bank has established an interim leadership structure following the unexpected resignation of CEO Sumant Kathpalia on April 29, 2025. The RBI approved a 'Committee of Executives' to manage operations for up to three months, overseen by a Board Oversight Committee. The bank has engaged Egon Zehnder to expedite the search for a new CEO and deputy CEO, with potential candidates from major financial institutions being considered. The bank faces near-term profitability challenges due to accounting discrepancies totaling 2,600 crore rupees.

29Apr 25

IndusInd Bank Seeks RBI Approval for Interim Executive Committee Amid Leadership Changes

IndusInd Bank is seeking RBI approval for an interim executive committee following the resignations of CEO Sumant Kathpalia and Deputy CEO Arun Khurana, effective April 2025. Both resignations are linked to issues in the bank's derivatives operations, with Kathpalia citing 'moral responsibility' and Khurana mentioning 'incorrect accounting for internal derivative trades'. The bank's Board is working to ensure management continuity during this transition.

29Apr 25

IndusInd Bank CEO Sumant Kathpalia Resigns Amid Derivatives Controversy

Sumant Kathpalia, MD and CEO of IndusInd Bank, has resigned effective April 29, 2025, citing moral responsibility for issues related to ongoing derivatives discussions. Arun Khurana, Deputy CEO, also resigned immediately on April 28, 2025, mentioning incorrect accounting for internal derivative trades. The bank's Board is seeking RBI approval for an interim 'Committee of Executives' to manage CEO duties until a permanent replacement is found. These resignations raise questions about the bank's internal controls and risk management practices, particularly in treasury operations.

29Apr 25

IndusInd Bank Faces Potential Q4 Loss Amid Derivative Accounting Issue and Key Executive Resignation

IndusInd Bank may report a net loss of ₹300-600 crore in Q4 FY2024 due to a one-time charge of ₹1,959 crore from derivative losses. The bank's Deputy CEO, Arun Khurana, has resigned following the accounting discrepancy. Analysts anticipate subdued operational performance and potential pressure on asset quality and credit costs.

29Apr 25

IndusInd Bank's Deputy CEO Arun Khurana Resigns Amid Accounting Concerns

Arun Khurana, Deputy CEO and Whole-time Director of IndusInd Bank, has resigned with immediate effect on April 28, 2025. His resignation comes in response to recent accounting issues, including an adverse impact on the bank's profit and loss statement and incorrect accounting for internal derivative trades. As the overseer of the Treasury Front office function, Khurana took responsibility for these issues. The bank's board met to address this development, but no succession plans or interim arrangements have been announced yet.

29Apr 25

IndusInd Bank CEO Sumant Kathpalia Resigns Amid Derivatives Controversy

Sumant Kathpalia, Managing Director and CEO of IndusInd Bank, has resigned with immediate effect, citing moral responsibility related to an ongoing derivatives controversy. The resignation comes amidst concerns about the bank's risk management practices and internal controls, particularly in treasury operations. While specific details of the controversy are not fully disclosed, the sudden leadership change is expected to have significant implications for the bank, potentially affecting investor confidence and leading to increased regulatory scrutiny.

28Apr 25

IndusInd Bank Deputy CEO Arun Khurana Resigns Amid Accounting Concerns

Arun Khurana, Deputy CEO and Whole-time Director of IndusInd Bank, has resigned effective immediately on April 28, 2025. His resignation follows 'recent unfortunate developments' related to incorrect accounting for internal derivative trades, which had an adverse impact on the bank's P&L. Khurana, who oversaw the Treasury Front office function, took responsibility for this issue. His departure includes vacating roles as Executive Director, Deputy CEO, and Key Managerial Personnel. The bank has not yet announced plans for his replacement.

28Apr 25

IndusInd Bank Deputy CEO Arun Khurana Resigns Amid Accounting Discrepancies

Arun Khurana, Deputy CEO and Whole-time Director of IndusInd Bank, has resigned with immediate effect due to accounting discrepancies in the bank's derivatives business. The resignation follows the discovery of incorrect accounting for internal derivative trades, which resulted in an adverse impact on the bank's Profit and Loss statement. Khurana, who oversaw the Treasury Front office function, offered to assist in transitioning his responsibilities.

28Apr 25

IndusInd Bank to Absorb ₹1,960 Crore Loss in Q4 Due to Accounting Discrepancies

IndusInd Bank will fully absorb a loss of ₹1,959.98 crore in its March quarter earnings due to incorrect accounting of internal derivative trades. The issue was identified by an independent firm, leading to the recording of notional profits. The bank has discontinued internal derivative trades, plans to fix accountability, realign senior management roles, and strengthen internal controls. This loss is expected to significantly impact the bank's profitability for the March 2025 quarter and potentially the entire fiscal year.

27Apr 25

IndusInd Bank to Realign Top Management Following ₹1,959.98 Crore Accounting Discrepancy

IndusInd Bank is set to restructure its senior management after an independent investigation revealed accounting discrepancies totaling ₹1,959.98 crores as of March 31, 2025. The issues stem from incorrect accounting of internal derivative trades, leading to notional profits being recorded. The bank's board plans to realign top management roles, establish accountability, and strengthen internal controls. Additionally, concerns in the microfinance portfolio are being addressed through an internal audit. The bank has already discontinued internal derivative trades from April 1, 2024, and is committed to transparent disclosure of findings.

25Apr 25

IndusInd Bank Clarifies: EY Not Conducting Forensic Audit on Microfinance Portfolio

IndusInd Bank has issued a clarification stating that Ernst & Young (EY) is not conducting a forensic audit of its microfinance portfolio, contrary to recent reports. The bank explained that EY is assisting its Internal Audit Department in a routine review of microfinance business records as part of the regular account finalization process. This statement contradicts earlier reports of a forensic probe into an alleged Rs 600.00 crore discrepancy in the bank's microfinance portfolio.

24Apr 25

IndusInd Bank Halts New MFI Client Onboarding: Strategic Shift in Microfinance Operations

IndusInd Bank has reportedly stopped onboarding new microfinance institution (MFI) clients, signaling a potential shift in its microfinance strategy. While the bank has not officially commented on the reasons, this move could be part of risk management efforts, a response to regulatory changes, or a portfolio reassessment. The decision may have broader implications for India's microfinance sector, potentially influencing other banks' strategies in this space.

24Apr 25

IndusInd Bank Faces Challenges: Moody's Review and Microfinance Business Halt

IndusInd Bank is under Moody's review for risk management and leadership transition, with a decision expected within two months. The bank has paused new microfinance customer onboarding since January due to an ongoing investigation by Ernst & Young. An external report estimates a potential negative impact of Rs 1,979.00 crore from forex derivatives transactions. Despite challenges, Q3 FY2024 saw a 5.33% YoY increase in net profit to Rs 1,402.30 crore, though EBITDA and EPS declined significantly. The bank's balance sheet shows growth with total assets at Rs 514,935.00 crore, up 12.48% YoY.

23Apr 25

IndusInd Bank Clarifies: No Forensic Audit by EY, Internal Review of MFI Business Underway

IndusInd Bank has issued a clarification regarding recent news reports, stating that Ernst & Young (EY) has not been hired for a forensic audit. The bank's Internal Audit Department is conducting an internal review of its microfinance business, with EY assisting in reviewing certain records. This review is currently in progress and aims to address specific concerns brought to the bank's attention. IndusInd Bank emphasized its commitment to regulatory compliance and transparency.

22Apr 25

IndusInd Bank Clarifies: No Forensic Audit, Internal Review of MFI Business Underway

IndusInd Bank has issued a clarification regarding its microfinance (MFI) business review. The bank's Internal Audit Department is conducting an internal review, with EY assisting in a limited capacity. Contrary to earlier reports, EY has not been engaged for a forensic audit. The review is part of the account finalization process and aims to examine certain concerns. The bank affirms its commitment to transparency and regulatory compliance.

22Apr 25

IndusInd Bank Orders Second Forensic Audit Amidst ₹600 Crore Discrepancy

IndusInd Bank has appointed Ernst & Young (EY) to conduct a forensic audit into a ₹600 crore discrepancy in interest income accrual within its microfinance segment. This is the second ongoing forensic audit at the bank, with Grant Thornton Bharat already investigating irregularities in the forex derivatives portfolio. The discrepancy was discovered during the statutory audit for the last financial year, prompting auditors to request a thorough investigation. The bank's proactive approach in addressing these issues aligns with increasing regulatory scrutiny and demands for transparency in the Indian banking sector.

18Apr 25

IndusInd Bank Appoints Santosh Kumar as Deputy CFO, Reshuffles Leadership

IndusInd Bank has appointed Santosh Kumar as Deputy Chief Financial Officer and Special Officer – Finance & Accounts, effective April 18, 2025. Kumar, currently serving as Chief Accountant, will head the finance and accounts functions until a full-time CFO is appointed. He brings over 20 years of experience in finance and accounting, including roles at ICICI Bank and PwC. This appointment follows the relief of Mr. Arun Khurana from his interim CFO responsibilities on April 17, 2025.

17Apr 25

IndusInd Bank Shares Surge 7% as Auditors Confirm Derivatives Loss

IndusInd Bank shares rose over 7% after external auditors confirmed derivatives losses of ₹1,979.00 crore, matching the bank's initial estimates. The stock has recovered significantly since the March disclosure, now down only 12.50% from the announcement date. This development has boosted investor confidence in the bank's transparency and financial reporting.

16Apr 25

IndusInd Bank Confirms ₹1,979 Crore Derivatives Loss, Faces Senior Executive Departures

IndusInd Bank has officially disclosed a derivatives loss of ₹1,979.00 crore as of June 30, 2024, following an external review. The post-tax impact is 2.27% of the bank's net worth as of December 2024. Three senior executives have reportedly left the bank in the wake of this revelation. The bank plans to reflect the impact in its FY 2024-25 financial statements and is taking steps to improve internal controls related to derivative accounting operations.

16Apr 25

IndusInd Bank: Senior Executives May Exit Following ₹1,979 Crore Derivatives Loss

IndusInd Bank has disclosed a ₹1,979 crore loss due to derivatives portfolio discrepancies, confirmed by PwC's external review. The bank's CEO Sumant Kathpalia and Deputy CEO Arun Khurana may step down, with the RBI requesting CEO succession planning. Shareholding patterns have changed, with promoter stake decreasing to 15.83% and retail investors increasing to 9.17%. The bank plans to reflect the impact in its FY 2024-25 financial statements and is strengthening internal controls. A separate forensic investigation by Grant Thornton Bharat is ongoing as directed by the RBI.

08Apr 25

Morgan Stanley Cuts IndusInd Bank's Target Price on Weaker Earnings Outlook

Morgan Stanley has reduced IndusInd Bank's target price from Rs 1,105.00 to Rs 755.00, a 32% cut, due to weaker projected earnings. The bank's Q4 FY25 update showed slowed loan and deposit growth, with a 6% quarter-on-quarter decline in CASA deposits. Earnings per share estimates for FY25, FY26, and FY27 have been revised downward by 27%, 17%, and 17% respectively. The firm also cited uncertainties in leadership and strategy, leading to increased cost of equity assumptions.

07Apr 25

IndusInd Bank Q4 Update: Mixed Performance and UBS Price Target Cut

IndusInd Bank's Q4 FY25 update shows 1.40% YoY growth in net advances to ₹3.47 lakh crore, but a 5.20% QoQ decrease. Total deposits grew 6.80% YoY to ₹4.11 lakh crore. CASA ratio declined to 32.80%. UBS maintained a 'Sell' rating, cutting the price target by 22% to ₹600, citing concerns over deposit flows, CEO appointment, and pending auditor report. UBS also lowered loan growth estimates to 10% and reduced NIM estimates for FY26 and FY27.

05Apr 25

IndusInd Bank Faces Deposit and Advance Challenges in Q1 2025

IndusInd Bank's Q1 2025 results show marginal deposit growth of 0.4% to Rs 4.11 lakh crore, with a 2% decline in term and low-cost deposits. The bank's CASA ratio dropped to 32.8% from 37.9% a year ago. Advances contracted by 5.2% to Rs 3.47 lakh crore, led by a 15.1% decrease in corporate banking. Consumer business grew by 3.4% quarter-on-quarter. The bank maintains a strong liquidity position with a daily average LCR of 118.4%. An independent audit of the bank's derivatives portfolio is ongoing due to forex derivative accounting issues.

04Apr 25

IndusInd Bank Reports Mixed Q4 Results: Flat Deposit Growth and Declining Loan Book

IndusInd Bank's Q4 FY25 results show flat deposit growth and declining loan book. Net advances grew 1.40% YoY but fell 5.20% QoQ to ₹3,47,933.00 cr. Deposits increased 6.80% YoY to ₹4,11,140.00 cr. CASA ratio declined to 32.80%. Corporate banking segment saw significant contraction. Consumer businesses showed resilience with 6.30% YoY growth. The bank maintained strong liquidity with LCR at 136.20%. Recent $175 million accounting lapse in derivatives portfolio has raised governance concerns.

04Apr 25

IndusInd Bank Q4 Business Update: Mixed Results with Declining Advances and CASA Ratio

IndusInd Bank's Q4 business update shows a 1.40% YoY growth in net advances to ₹3.47 lakh crore, but a 5.20% QoQ decline. Deposits grew by 6.80% YoY to ₹4.11 lakh crore. The CASA ratio decreased to 32.80% from 37.90% YoY, indicating a shift in deposit mix.

03Apr 25

IndusInd Bank Refutes PwC Report Claims, Appoints Grant Thornton for Forensic Audit

IndusInd Bank denies receiving a PwC report on accounting discrepancies in its derivatives portfolio. The bank's board has appointed Grant Thornton for a forensic audit to address allegations. Moody's has placed the bank's Ba1 Baseline Credit Assessment under review for possible downgrade. These events highlight the importance of financial reporting and governance in the banking sector.

02Apr 25

IndusInd Bank Under Scrutiny: PwC Submits Report on Accounting Discrepancies

PwC has submitted its report on accounting discrepancies in IndusInd Bank's derivatives portfolio to the bank's board. The board is reviewing the report and awaiting an additional review from Grant Thornton before taking further action. The Reserve Bank of India is monitoring the situation closely. This development raises questions about the bank's risk management and financial reporting processes, with potential implications for its market standing.

02Apr 25

IndusInd Bank Shares Witness Massive Block Trade on NSE

A significant block trade of 1,804,411 IndusInd Bank shares occurred on the NSE at Rs. 685.00 per share, totaling Rs. 123.60 crores. This large transaction may impact the stock's price, trading volume, and potentially signal shifts in institutional interest or ownership patterns.

27Mar 25

IndusInd Bank Faces Multiple Challenges: Sebi Probe, Derivative Loss, and Portfolio Removal

IndusInd Bank faces multiple challenges: Sebi initiates insider trading investigation following a ₹1500 crore derivative loss disclosure. PwC's initial findings lead to a forensic audit of the bank's accounting practices. Emkay Global removes IndusInd Bank from its model portfolio due to leadership uncertainty and derivatives-accounting issues. The bank's CEO receives only a one-year extension from RBI, shorter than requested. These developments raise concerns about the bank's corporate governance and financial stability.

26Mar 25

IndusInd Bank Initiates Search for New CEO, Share Price Rises

IndusInd Bank is appointing a search firm to find a new CEO, a move that has been positively received by the market. The bank's share price increased by 3.56% following this announcement. This decision is seen as a strategic step to refresh top management and position the bank for future growth. The process will likely adhere to RBI guidelines for leadership appointments in banks.

25Mar 25

IndusInd Bank Faces Regulatory Challenges: GST Penalty and Accounting Discrepancies

IndusInd Bank faces a Rs 30.15 crore penalty from GST authorities and is under scrutiny for accounting discrepancies potentially impacting Rs 2,100 crore. The bank plans to appeal the GST order. PwC is preparing a report on the accounting issues, while Grant Thornton conducts a forensic review. The RBI is monitoring the situation, and the bank's shares fell over 5% in response to these developments.

24Mar 25

IndusInd Bank Faces Multiple Challenges: GST Penalty, Derivatives Loss, and Q3 Results

IndusInd Bank is grappling with a ₹30.15 crore GST penalty, which it plans to appeal. The bank has initiated a forensic audit by Grant Thornton Bharat following a potential ₹1,600 crore derivatives loss. Q3 results show a 39% YoY decline in net profit to ₹1,402.30 crore, with NII down 1.30% and GNPA ratio rising to 2.25%. The bank has refuted media reports about its top executives' tenure, calling them factually incorrect.

23Mar 25

IndusInd Bank Appoints Grant Thornton for Forensic Review Amid Accounting Concerns

IndusInd Bank has appointed Grant Thornton to conduct a forensic review following a $175 million overvaluation in its derivatives portfolio. The review will investigate potential fraud, internal misstatements, and accountability. The bank's share price dropped 23.40% on March 10 when the accounting lapses were disclosed. This move aims to restore investor confidence and may lead to internal restructuring and enhanced control measures.

22Mar 25

IndusInd Bank Faces RBI-Ordered Comprehensive Forensic Audit Amid Accounting Discrepancies

The Reserve Bank of India has mandated a comprehensive forensic investigation of IndusInd Bank following recent regulatory issues and accounting discrepancies. The bank faces a potential ₹2,000 crore loss due to derivatives portfolio overvaluation and has already taken a ₹1,600 crore hit on its balance sheet. The audit will examine the derivatives portfolio, accounting practices, and management accountability. Despite challenges, the bank shows growth in total assets and equity, but a decrease in current assets.

21Mar 25

IndusInd Bank to Join FTSE All World Index, Expecting ₹2.2 Billion Inflow

IndusInd Bank is set to be included in the FTSE All World Index, a move expected to bring in approximately $25.5 million (₹2.2 billion) in foreign investment. This inclusion is anticipated to increase the bank's visibility among international investors, potentially improve stock liquidity, and attract a broader investor base. The FTSE All World Index represents large and mid-cap stocks from developed and emerging markets.

21Mar 25

IndusInd Bank Refutes CEO Tenure Reports and Investigates Accounting Discrepancies

IndusInd Bank has appointed an independent firm to investigate accounting discrepancies in its derivative portfolio, estimated at ₹1450.00 crore. The bank has also refuted media reports about leadership changes, asserting they are factually incorrect. The investigation aims to identify root causes, assess accounting treatments, and establish accountability. The bank's stock has reportedly fallen 30% this month due to these issues.

19Mar 25

IndusInd Bank Faces Scrutiny Over Derivative Losses as Moody's Reviews Credit Rating

IndusInd Bank is under scrutiny due to derivative losses exceeding ₹1,500 crore, stemming from an RBI directive on derivative valuation. Moody's has placed the bank's Ba1 Baseline Credit Assessment under review for potential downgrade, while affirming other ratings. The situation raises concerns about the bank's transparency and governance practices, particularly due to delayed disclosure of losses and inconsistent accounting methods.

19Mar 25

IndusInd International Acquires Reliance Capital, Moody's Reviews Bank's Credit Rating

IndusInd International has completed the acquisition of Reliance Capital, aiming to expand beyond banking. The company plans to review and potentially exit some Reliance Capital units, focus on broking and asset reconstruction, and list insurance companies within 2-3 years. Moody's has affirmed IndusInd Bank's credit ratings but placed its Baseline Credit Assessment under review for potential downgrade. The acquisition marks a significant shift in IndusInd's strategy, potentially diversifying its revenue streams while raising concerns about its credit profile.

18Mar 25

IndusInd Bank: Promoters View Stock Dip as Investment Opportunity Amid Scrutiny

Moody's Investors Service is reviewing IndusInd Bank's baseline credit assessment for a potential downgrade due to concerns over internal controls and derivative account discrepancies. The bank faces scrutiny following an accounting discrepancy with an estimated impact of ₹1577 crore, leading to a 27% stock price drop. Despite challenges, the bank's promoters see an opportunity to increase their stake, and recent financial results show resilience with a 5.73% YoY increase in net profit to ₹1401.30 crore in Q3 FY2024. IndusInd International executives have expressed willingness to infuse capital if needed and are considering expansion in India's financial services sector.

18Mar 25

IndusInd Bank Raises ₹11,000 Crore via CDs Amid Accounting Discrepancy; Moody's Affirms Rating

IndusInd Bank has successfully raised ₹11,000 crore through certificates of deposit (CDs) following the discovery of a ₹2,000 crore accounting discrepancy in its derivatives book. Moody's has maintained the bank's 'Ba1' rating with a stable outlook but placed its Baseline Credit Assessment under review for downgrade. The Reserve Bank of India (RBI) stated that the bank's overall financial position remains satisfactory, although the accounting issue could potentially impact the bank's net worth by 2.30% by December 31, 2024.

17Mar 25

IndusInd Bank: RBI Reassures on Financial Stability Amid Scrutiny Over Derivatives Losses and Information Sharing Concerns

IndusInd Bank faces scrutiny over derivatives losses and potential delays in information sharing with PwC. The RBI has reassured depositors about the bank's financial stability, citing strong capital adequacy and liquidity ratios. An external audit is ongoing, and the bank's board has been directed to implement remedial actions. Rating agencies are closely monitoring the situation, while the bank's stock has been negatively impacted. Despite challenges, the bank's Q3 FY2024 results show modest growth in key financial metrics.

15Mar 25

RBI Affirms IndusInd Bank's Financial Stability Amid Accounting Discrepancy

The Reserve Bank of India (RBI) has confirmed IndusInd Bank's financial stability, addressing recent speculative reports. Key financial metrics show robust health: Capital Adequacy Ratio at 16.46%, Provision Coverage Ratio at 70.20%, and Liquidity Coverage Ratio at 113%. The bank has been directed to complete remedial actions for an accounting discrepancy by Q4FY25. Recent balance sheet data reveals strong growth with total assets up 12.48% and total equity up 14.97% year-over-year. The RBI's statement reassures stakeholders about the bank's financial position despite the ongoing accounting issue.

14Mar 25

ICAI Considers Review of IndusInd Bank's Books Over Rs 2,100 Crore Accounting Discrepancy

IndusInd Bank faces scrutiny as ICAI contemplates reviewing its financial statements due to accounting discrepancies in its derivatives portfolio. The bank disclosed a potential adverse impact of Rs 2,100 crore, about 2.35% of its net worth. An external agency is investigating, with a report expected by early April. The bank held an analysts call on March 10, 2025, to address concerns, demonstrating transparency during this period.

13Mar 25

HDFC Mutual Fund Boosts Stake in IndusInd Bank Amid Accounting Concerns

HDFC Mutual Fund has raised its stake in IndusInd Bank from 4.82% to 5.02% through open market transactions. This comes as IndusInd Bank faces accounting discrepancies related to internal derivatives, which are expected to reduce the bank's net worth by 2.35%. Despite these challenges, IndusInd Bank projects a small profit in its fourth-quarter results.

13Mar 25

IndusInd Bank Faces Multiple Challenges: Leadership Changes, Accounting Issues, and Regulatory Scrutiny

IndusInd Bank is under pressure due to multiple issues. The NSE placed it under Additional Surveillance Measure, limiting daily price movement. SEBI may investigate the bank for understating derivative losses, potentially impacting its net worth by 2.35%. CLSA cut the bank's price target by 30% to ₹900. The RBI has requested external candidates for CEO and COO positions. An internal review of the derivative portfolio estimates a 2.35% impact on net worth. Top executives sold shares worth ₹157 crore in FY 2023-24. The bank expects a ₹1,577 crore hit but anticipates remaining profitable in Q4.

12Mar 25

IndusInd Bank Poised to Acquire Reliance Capital, Signaling Major Financial Sector Shift

IndusInd Bank is reportedly close to acquiring Reliance Capital, a move that could significantly reshape India's financial landscape. This acquisition comes as IndusInd Bank shows strong financial growth, with total assets reaching ₹514,935 crore (12.48% YoY increase) and total equity at ₹62,797.1 crore (14.97% YoY increase) as of March 2024. The potential acquisition could diversify IndusInd Bank's portfolio, increase its market share, and create operational synergies. This development may trigger further consolidation in the Indian financial sector.

12Mar 25

IndusInd Bank Faces Multiple Challenges: RBI Probe, Leadership Changes, and Potential Share Pledge Increase

The Reserve Bank of India (RBI) has initiated an investigation into forex hedging practices across the banking sector after discrepancies were found in IndusInd Bank's derivative portfolio. The RBI has instructed IndusInd Bank's board to suggest external candidates for CEO and COO positions. IndusInd Bank's CEO clarified that the discrepancy was discovered internally, is a one-off issue, and the bank expects to report a profit in Q4 despite the financial hit. The RBI has extended its investigation to other large banks, verifying their hedging effectiveness and forex derivative positions. Macquarie Capital warned that the Hinduja Group may need to increase its share pledge in IndusInd Bank if the stock price continues to fall.

11Mar 25

IndusInd Bank Expects Q4 Profit Despite Internal Review Discrepancies

IndusInd Bank's CEO expresses confidence in Q4 profitability and robust capital position. However, an internal review revealed discrepancies in the derivative portfolio, estimating a 2.35% adverse impact on net worth. The bank has appointed an external agency for validation and assures financial stability despite the findings. An analyst call is scheduled to address concerns.

11Mar 25

IndusInd Bank Shares: Block Trade Executed Amidst Disclosure of Internal Review Findings

IndusInd Bank disclosed discrepancies in its derivative portfolio's Other Asset and Other Liability accounts, estimating a 2.35% impact on net worth. An external agency is reviewing the findings. The bank assures its profitability and capital adequacy remain healthy. A block trade of 228,744 shares at Rs. 667.15 per share was also executed on NSE. An analyst call is scheduled to discuss the disclosure.

11Mar 25

IndusInd Bank Sees Multiple Block Trades Amid Disclosure of Internal Review Findings

IndusInd Bank reported discrepancies in its derivative portfolio's Other Asset and Other Liability accounts during an internal review. The estimated adverse impact is approximately 2.35% of the bank's Net worth as of December 2024. An external agency has been appointed for independent validation. Concurrently, the bank's shares saw significant block trades on NSE, totaling over Rs 101 crores. Despite the potential impact, the bank assures healthy profitability and capital adequacy. An analyst call is scheduled to discuss the findings.