ICAI to review IndusInd Bank's books over forex accounting lapses

IndusInd Bank on March 10 had disclosed certain discrepancies identified by the lender in its account balances relating to its derivatives portfolio

The Institute of Chartered Accountants of India (ICAI) on Thursday said it will review the books of private lender IndusInd Bank, as the statutory body took note of major accounting lapses in the len­der’s forex derivative portfolio. 

The lapses — to the tune of ₹2,600 crore — came to fore during an internal review by the bank, and go back to 7 to 8 years. ICAI will review the financial statements and the statutory auditor’s reports of the bank for the financial year 2023-24 (FY24) and 2024-25 (FY25), its President Charanjot Singh Nanda told Business Standard.  

“It has been deci­ded