IndusInd

The difficult phase for the microfinance business is now behind us, with risks playing out favourably, and growth in the segment is expected to return from the second quarter onwards, IndusInd Bank MD and CEO Rajiv Anand has said. IndusInd Bank faced a severe governance and accounting crisis in 2025 centred around its microfinance subsidiary, Bharat Financial Inclusion Ltd (BFIL). The bank reversed Rs 674 crore of cumulative interest income recognised incorrectly across FY25. A further Rs 172 crore was disclosed as fraud, where employees falsely reported the sum as fee income in the microfinance business. "We have had a fairly difficult time on our microfinance business. But it is all now behind us. Risk is playing out quite well at this point in time and Q2 onwards we should see growth come back in our microfinance businesses," Anand told PTI in an interview. The microfinance arm has a very successful business called Bharat Superstore, where it lends to kirana stores, small ...

The lender plans to restore industry-aligned growth in FY27, accelerate expansion in FY28 and outperform peers by FY29 after strengthening governance and its balance sheet

Banerjee, who has been the head of the global markets group at IndusInd Bank since 2020, has informed the management about his decision

Sunil Mehta to step down from the helm of IndusInd following completion of his term on Jan 30

Sunil Mehta to step down as chairman and director

The MCA ordered an SFIO probe into IndusInd after statutory auditors and forensic reports flagged major accounting lapses

IndusInd Bank has made key leadership appointments, naming a new CHRO, chief data officer, head of wholesale banking and an MD and CEO for Bharat Financial Inclusion, its microfinance subsidiary

IndusInd expects to grow in line with the country's banking sector next year, its chief executive said last month, following efforts to clean up its books

This year, IndusInd Bank disclosed incorrect accounting on derivative trades that prompted a $230 million hit to its accounts and led to exit of former CEO Sumant Kathpalia and deputy CEO Arun Khurana

IndusInd Bank has appointed Amitabh Kumar Singh, a former ICICI Group executive, as its Chief Human Resources Officer, effective November 10, as part of its leadership expansion drive

In the September quarter - the first under new chief executive Rajiv Anand - the bank reported a net loss as its loan and deposit portfolios shrank

IndusInd Bank promoter IndusInd International Holdings and US-based Invesco on Sunday announced that they have completed the formation of their asset management joint venture, following IIHL's acquisition of a 60 per cent ownership stake in Invesco Asset Management India. Following all regulatory approvals and closing conditions, Invesco Ltd, with the remaining 40 per cent stake, will hold joint sponsor status with the Hinduja Group firm IndusInd International Holdings Ltd (IIHL) in the asset management company, a joint statement said. As of September 2025, Invesco Asset Management India (IAMI) is the 16th largest domestic asset manager in India, with combined onshore and offshore (through advisory) average assets under management of Rs 1,48,358 crore for the quarter ending September 2025 and a presence in 40 cities across the country. Both partners contribute their respective strengths to the joint venture (JV), with Invesco offering its global investment management expertise and .

Insolvency appellate tribunal NCLAT has asked Hinduja group firm IndusInd International Holdings Ltd (IIHL) to submit a timeframe by which it will discontinue using Reliance trademark for the financial service firm Reliance Capital. The counsel appearing for IIHL submitted before NCLAT that the process of name change after the acquisition of Reliance Capital has already started, and is likely to be completed in eight weeks. The National Company Law Appellate Tribunal (NCLAT) was hearing an appeal filed by Anil Dhirubhai Ambani Ventures Pvt Ltd (ADAVL), which has sought a stay over the use of the trademark Reliance after the takeover of Reliance Capital, through the insolvency resolution process. Noting IIHL's submission, a two-member National Company Law Appellate Tribunal (NCLAT) bench recorded in its order, "It is emphasised by Sr Counsel for the Respondent (IIHL) that the process of changing the brand name of the appellant with a new brand name, which is intended to be acquired b

Invesco Mutual Fund has received market regulator Sebi approval to transfer a controlling 60 per cent stake to IndusInd International Holdings Ltd (IIHL), according to sources. The Securities and Exchange Board of India (Sebi) has recently provided all approvals to the pending applications by Invesco India for a change in control of Invesco AMC, Invesco Trustee Company and to the PMS business, they added. According to sources, Sebi has also approved the appointment of directors on the board of the Invesco Trustee Company. The Competition Commission of India (CCI) had approved the acquisition of shareholding in each of Invesco Asset Management (India) Private Ltd and Invesco Trustee Private Ltd by Hinduja Group's firm IIHL in August 2024. The proposed combination pertains to the acquisition of 60 per cent shareholding in each of Invesco Asset Management (India) Private Ltd (Invesco AMC) and Invesco Trustee Private Ltd (Invesco Trustee) by IIHL. IIHL will be holding the investment .

Bank's chief human resources officer resigns after a two-decade stint with the bank

Indusind Bank chairman Sunil Mehta commits to addressing board accountability after Sebi's order highlighted accounting discrepancies and senior management awareness

Market regulator says five senior officials of the lender sold shares while holding unpublished price-sensitive information

Shares of the lender closed 1.82 per cent higher on the BSE on Tuesday, despite trading in the red in the early session

IndusInd Bank may face muted financials in the medium to near-term, and the new MD and CEO will have an "uphill task" of resurrecting the bank and regaining investor trust, brokerages said on Thursday after the beleaguered bank reported its biggest net loss in 20 years. Most brokerages see downside in shares of IndusInd Bank, which posted a net loss of Rs 2,329 crore, marking one of the worst quarters in terms of both financial metrics and top level upheavals in the wake of accounting (derivative, MFI, other assets/liabilities) fraud. Brokerage firm Emkay in its note said: "We believe these developments could hurt the bank's business and financials in the near-to-medium term." Nirmal Bang, taking note of "uncertain outlook on various parameters", has cut the bank's earnings estimates by 23.6 per cent in current fiscal and 13 per cent for FY'27. Lapses in derivatives accounting, slippages in microfinance portfolio, and fraud in balance sheet disclosures have rattled the private sect

IndusInd Bank uncovers suspected internal fraud involving about ₹173 crore in microfinance; board initiates legal steps and adjusts FY25 accounts to reflect discrepancies