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Account errors affect IndusInd networth
The New Indian Express Kochi
|March 11, 2025
PRIVATE sector lender IndusInd Bank has estimated an adverse impact of approximately 2.35% of its net worth as of December 2024 due to discrepancies in accounting derivatives portfolio.
In regulatory filing to exchanges, Pune, Maharashtra-based bank has said that in a recent internal review, it has identified discrepancies in its accounting processes related to "Other Assets" and "Other Liabilities" within its derivatives portfolio.
The review was conducted following the implementation of the Reserve Bank of India's (RBI) Master Direction on Classification, Valuation, and Operation of Investment Portfolio of Commercial Banks, 2023, which came into effect on April 1, 2024.
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