IndusInd Bank's deputy CEO Arun Khurana resigns amid accounting blunder
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 28 2025
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Source: Reuters
Resignation of Deputy CEO: IndusInd Bank's deputy CEO Arun Khurana resigned following the disclosure of accounting lapses in the bank's derivatives portfolio, which led to a significant drop in its share value.
Financial Impact and Leadership Changes: The bank announced a $229.56 million hit to its accounts for the financial year ending March 31, 2025, due to these discrepancies, while also appointing Santosh Kumar as deputy CFO amid ongoing leadership changes prompted by the Reserve Bank of India's recommendations.
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.
