Page 8 - Indusind Bank

IndusInd Bank slips 5% ahead of accounting discrepancies report on Mar 28

External auditor PwC is likely to submit its report to IndusInd Bank's board on Friday March 28, regarding accounting discrepancies in its derivatives portfolio, PTI reported quoting sources

PwC may submit report on IndusInd's accounting discrepancies on Mar 28

External auditor PwC is likely to submit its report to IndusInd Bank's board on Friday regarding accounting discrepancies in its derivatives portfolio, sources said. As per an estimate, Rs 2,100 crore discrepancy in accounting may impact 2.35 per cent of the bank's net worth. The comprehensive report by PwC is expected to point out actual loss to the bank due to accounting discrepancies, lapses at various levels and remedial action, sources said. Banking sector regulator, Reserve Bank had directed the board and the management of IndusInd Bank to take remedial action during the current quarter itself after making required disclosures to all stakeholders. The current quarter comes to an end on March 31. Meanwhile, the IndusInd Bank's board has also hired Grant Thornton to conduct a forensic audit into accounting lapses. As per the mandate, Grant Thornton would conduct a comprehensive investigation to identify the root cause of the discrepancies and assess the correctness and impact

Stocks to Watch, March 24: IndusInd, ONGC, L&T, RIL, Power Grid, NCC, Ola

Stocks to Watch on Monday: IndusInd, ONGC, L&T, RIL, Power Grid, NCC, Raymond, Ola and Welspun Corp are among the stocks to watch today, March 24, 2025

IndusInd Bank taps Grant Thornton for fraud checks in accounting case

The accounting discrepancy contravened Reserve Bank of India rules, though the central bank has said IndusInd is well-capitalised

IndusInd Bank to hire independent firm to probe derivatives discrepancies

The firm will assess the correctness and impact of accounting treatment of derivative contracts in accordance with prevailing accounting standards, identify any lapses, and establish accountability

IndusInd Bank refutes media report on CEO and deputy stepping down

IndusInd Bank strongly denied the claims, however, stating they are "factually incorrect"

Stocks to Watch, March 21: IndusInd, Manappuram Fin, Bajaj Fin, JSW Energy

Stocks to Watch on Friday: IndusInd Bank, Manappuram Finance, Bajaj Finance, HUL, JSW Energy and Hindalco Industries are among the top stocks to watch today, March 21, 2025

CD rates top 8% for smaller banks amid banking system liquidity tightness

Indusind raises nearly Rs 15,000 via CDs this week with PSBs take a major chunk

Business of trust: IndusInd Bank events raise concerns over governance

While the bank has tasked an external agency to review the issues, reports suggest that discrepancy arose on account of derivatives positions taken by the bank to hedge its foreign-exchange exposure

IndusInd Bank appoints independent firm to probe accounting discrepancies

The independent firm, which the bank did not name, will identify the root cause of the discrepancies, assess the correctness of the accounting treatment of the derivative contracts

IndusInd bank raises additional Rs 2,750 crore via CDs, says CCIL data

On Monday, the lender had raised Rs 11,000 crore by issuing CDs across a range of maturities, with coupon rates varying between 7.80 per cent and 7.90 per cent

IndusInd Bank's liquidity adequate, capitalisation strong: Rating agencies

Losses in Q4FY25 unlikely to dent credit, liquidity profile; Tier-I impact estimated at 35 bps

IIHL takes control of Reliance Capital, puts new board members in place

IndusInd International Holdings Ltd (IIHL) on Wednesday took control of Reliance Capital (RCAP), completing a three-year resolution process after paying off the debt-ridden firm's lenders. IIHL has taken over the board of the RCAP and its subsidiaries, and the first meeting of the new board was held on Wednesday, sources said. According to sources, new board members include Moses Harding John and Arun Tiwari as approved by the Reserve Bank of India (RBI). With this acquisition, IIHL gains control over about 40 entities, including key subsidiaries like Reliance Nippon Life Insurance, Reliance General Insurance, Reliance Securities, and Reliance Asset Reconstruction. The company aims to establish bancassurance ties and implement digitization across these subsidiaries. "Now, with this acquisition, we are entering the insurance business in addition to banking. We also took a 60 per cent stake in Invesco's mutual fund business, and once approvals are in place, we will have a complete ..

Promoters will infuse capital into IndusInd Bank if needed: Ashok Hinduja

Bank is currently well-capitalised; awaiting RBI clearance for stake raise from 15% to 26%

Indusind Bank's funding cost shot up 15bps in a week amid derivative loss

IndusInd Bank raised Rs 11,000 crore by issuing certificates of deposit (CDs) across a range of maturities

At 0.8 times book value, IndusInd Bank stock valued as 'cheap': Bernstein

Sets target price of Rs 1,000, valuing the lender at 1x FY26 estimated book value; highlights key risks

Moody's affirms IndusInd's ratings; places on review for downgrade

The action comes in the backdrop of the bank's revelations about the inadequate internal controls in accounting for derivative transactions

Stocks to Watch, March 18: Bajaj Finserv, IndusInd, Vedanta, Tata Motors

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Moody's places IndusInd Bank's credit assessment on review for downgrade

Moody's said that the impact of the derivatives transactions, coupled with the ongoing stress in the retail unsecured loans, is likely to hurt the bank's profitability, capital and funding

IndusInd Bank gains 5% on RBI's reassurance on lender's financial health

The stock price of IndusInd Bank had tanked a 32 per cent in three days between March 6 and March 11.