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Derivatives losses: PwC identifies ₹1,979 crore hit to IndusInd Bank
The Morning Standard
|April 16, 2025
INDUSIND BANK disclosed on Tuesday that an external audit by PricewaterhouseCoopers (PwC) has identified a ₹1,979 crore financial impact due to irregularities in its derivatives portfolio, marking a significant blow to the private lender's risk management credibility.
In a regulatory filing, the bank stated that PwC's report, received on April 15, confirmed discrepancies in accounting for derivative deals, first flagged internally on March 10, 2025. The bank had initially estimated a 2.35% hit to its net worth as of December 2024 but revised this to 2.27% post-PwC's assessment, pegging the total loss at ₹1,979 crore as of June 30, 2024. The adjustments will be reflected in its 2024-25 financial statements. The disclosure comes amid heightened regulatory and i
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