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IndusInd Appoints Independent Firm to Probe Derivatives Lapses
Business Standard
|March 22, 2025
IndusInd Bank informed the exchanges on late Thursday night that its board has decided to appoint an independent professional firm to conduct a comprehensive investigation to identify the root cause of the discrepancies in the derivative portfolio of the bank.
Additionally, the firm will be tasked with assessing the correctness and impact of the accounting treatment of the derivative contracts with regard to the prevailing accounting standards, as well as identify any lapses and establish accountability.
The private lender on March 10 said that an internal review found discrepancies in the derivative portfolio of the bank, which would have over 2 per cent impact on its net worth. It also revealed that the bank has appointed an external agency — PwC — to conduct a review, whose report is still awaited.
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