From Yahoo Finance: 2025-04-04 05:07:00

IndusInd Bank faces a $175 million balance-sheet hole due to ignored accounting practices, resulting in its biggest crisis yet. The RBI has asked the CEO and deputy to step down, raising concerns about bank controls and derivative risks. The bank’s long-term foreign currency deposits and accounting treatments are at the center of the controversy. Internal trades were not marked-to-market, causing losses to go unnoticed until March. Regulators and auditors failed to detect these lapses due to complexity. Investigations have been widened to determine if there was fraud or intentional misstatement of accounts. The bank’s financial position remains satisfactory, with the Hinduja family ready to infuse capital if needed.



Read more at Yahoo Finance: How Indian bank IndusInd’s push for profits and lax controls drove it to a crisis