Indusind Bank Said Its Financial Records by Wrongly Recording 674 Rupees Crore as Interest

Indusind bank: On May 16, 2025, everyone will have a special eye on the stock of IndusInd Bank in Mumbai of private sector and it can be seen today during business. The reason for this is that irregularities have been detected during the bank’s audit. IndusInd Bank has reported in the information on the stock market on Thursday that during the investigation of Microfinance Trade by its internal audit department, 674 crore rupees were accidentally shown in interest in three quarters of Financial Year 2025. But this mistake was rectified on 10 January 2025.

May 10, after giving information about this to the stock exchange from the bank, its shares saw a big decline in a day of 27 percent. Significantly, the matter has come to light when the bank’s MD and CEO Sumant Kathpalia and Deputy CEO Arun Khurana resigned due to the derivatives portfolio controversy.

IndusInd Bank audit report revealed disturbances

The roles of prominent employees have also been investigated in this regard. Back said that after receiving complaints of whistleblower about this, the audit committee of the board had asked the internal audit department to review the transactions registered in ‘other assets’ and ‘other liabilities’.

This was in addition to review of the micro finance business of the bank, whose information was given by the lender to the stock markets on 22 April. The bank said that the ‘Internal Audit Department has submitted its report on 8 May 2025, according to which, the bank’s’ other assets’ accounts had an amount without documentary proof of up to Rs 595 crore.

Bank told the stock market

It was adjusted with the same amount seen in ‘other liabilities’ accounts in January 2025. IndusInd Bank said that the Audit Department has also investigated the roles and works of prominent employees in this context. Earlier on April 22, the bank had said that as part of the process of finalizing the accounts, the bank’s audit department is reviewing the bank’s MFI business to investigate some concerns and the help of EY is also being taken in it.

Also read: Not only Turki supported Pakistan under stress against India, this big game is hidden behind it