IndusInd Bank slumps 10% despite clarification on loan evergreening issue

The bank's management said that report of lapses in governance and accounting norms to allegedly 'evergreen' loans running was "inaccurate and baseless"

Shares of IndusInd Bank slumped 10 per cent to Rs 1,069.90 on the BSE in Monday's opening trade despite the bank management strongly refuting allegations around the evergreening of loans, citing media reports as "inaccurate and baseless".
With today's decline, the stock has slipped nearly 14 per cent from its 52-week high of Rs 1,242 on October 28, 2021. In comparison, the S&P BSE Sensex was down 0.22 per cent at 59,935 points at 09:30 am.

According to The Economic Times report, whistleblowers, several people, including a group of senior employees of the IndusInd Bank arm, Bharat Financial Inclusion