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IndusInd chiefs to exit after lapses in accounting
Mint New Delhi
|March 22, 2025
The Reserve Bank of India (RBI) has urged the chief executive officer (CEO) of IndusInd Bank and his deputy to step down after significant accounting lapses as soon as replacements are found and the central bank has approved them, according to four sources familiar with the conversations.
IndusInd is India's fifth-largest private lender, with a ₹5.4 trillion balance sheet. On 10 March, it disclosed that its derivatives portfolio was over-valued by around 2.35% after non-compliant internal trades.
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