IndusInd Bank’s ₹2,236 Cr Loss: First in 18 Years & It’s Bad 😱🏦

• 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 

🔍 Curated by Articoli News

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