- IndusInd Bank reported a net loss of ₹2,236 crore for Q4, marking its first quarterly loss in nearly 20 years.
- The loss is attributed to suspected employee fraud involving incorrect accounting of internal derivative trades, costing the bank ₹1,966 crore.
- An internal audit revealed ₹684 crorewas wrongly booked as interest income over three quarters of FY25.
- The bank’s CEO and Deputy CEO resigned amid mounting questions over internal controls and governance.
- Regulatory scrutiny is expected to intensify as investigations continue.
👉 Why this matters: This incident highlights the critical importance of robust internal controls and transparent financial reporting in the banking sector.
📰 Source: Moneycontrol
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