How Indian bank IndusInd's push for profits and lax controls drove it to a crisis
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 04 2025
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Source: Reuters
IndusInd Bank's Accounting Crisis: IndusInd Bank faced a $175 million balance-sheet shortfall due to improper derivative accounting practices, which went unnoticed until a significant drop in the rupee revealed the discrepancies. This has led to a loss of market value and scrutiny from the Reserve Bank of India (RBI).
Regulatory and Investigative Actions: The RBI has requested the resignation of the bank's CEO and deputy, while an external audit by PwC and Grant Thornton is underway to investigate potential fraud or misstatements related to the bank's accounting practices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
