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IndusInd Bank shares increased by 2.50% after the RBI commended the bank's handling of recent challenges. The resignation of its CEO marked a key accountability step during a period of financial turbulence and regulatory adherence.

IndusInd Bank Shares Surge Amid Positive RBI Remarks

Following RBI Governor Sanjay Malhotra's remarks, IndusInd Bank shares rose 2.50%. Resignation of CEO seen as accountability step amidst financial challenges and pressure from microloan exposures. Regulatory adherence affirmed by RBI.

IndusInd Bank shares rose by 2.50% after positive remarks from RBI's Sanjay Malhotra. He called the resignation of the MD and CEO a step in accountability.

Shares of IndusInd Bank on Friday climbed 2.50 per cent after Reserve Bank Governor Sanjay Malhotra said the firm is "doing well" now, and added that the resignation of MD and CEO Sumant Kathpalia should be seen as a "good enough" step from an accountability perspective.
The stock advanced 2.50 per cent to settle at Rs 823.20 on the BSE. During the day, it jumped 5.32 per cent to Rs 845.85.
At the NSE, shares of the firm climbed 2.44 per cent to Rs 822.85.
The RBI also said the bank has complied with all the regulatory asks over the turbulent period.
"The MD and CEO of the bank resigned, owning moral responsibilities. So, I thought that should be good enough. Do you expect that all the board members (should resign)... I think the MD and CEO, who is also a member of the board... has taken responsibility, that is at the board level itself," Malhotra said.
The governor made it clear that the RBI will not shy away from taking any action against the bank and the law will take its own course if there are any criminalities in the matter.
IndusInd Bank has been witnessing challenges for the last few quarters, starting with its microloan exposures and then conceding accounting lapses. It recorded the worst quarterly performance in its history by posting a Rs 2,329-crore loss in the March quarter, as it took the brunt of all the accounting lapses and oversights.
"I think the bank has taken enough number of steps to improve their accounting and other practices, and on the whole, I think it is doing well," Malhotra told reporters at the RBI headquarters in Mumbai.

RBI Governor lauds IndusInd Bank’s significant recovery efforts post-fraud scandal, emphasizing MD and CEO’s accountability. Stock rises after Governor's positive outlook.

RBI Praises IndusInd Banks Post-Fraud Recovery

IndusInd Bank's recovery praised by RBI post-fraud scandal. Key accountability seen in CEO's resignation. Bank strengthens operations, boosting investor confidence.

RBI Governor Sanjay Malhotra applauds IndusInd Bank&rsquo;s recovery efforts following a fraud scandal. The resignation of MD and CEO is a key accountability measure. Compliance, enhanced practices, and continued investigations restore investor confidence.

Reserve Bank Governor Sanjay Malhotra on Friday said fraud-hit IndusInd Bank is "doing well" now, and added that the resignation of MD and CEO Sumant Kathpalia should be seen as a "good enough" step from an accountability perspective.
The RBI also said the bank has complied with all the regulatory asks over the turbulent period.
"The MD and CEO of the bank resigned, owning moral responsibilities. So, I thought that should be good enough. Do you expect that all the board members should resign)... I think the MD and CEO, who is also a member of the board... has taken responsibility, that is at the board level itself," Malhotra said.
The governor made it clear that RBI will not shy away from taking any action against the bank, and the law will take its own course if there are any criminalities in the matter.
IndusInd Bank has been witnessing challenges for the last few quarters, starting with its microloan exposures and then conceding accounting lapses. It recorded the worst quarterly performance in its history by posting a Rs 2,329 crore loss in Q4FY25, as it took the brunt of all the accounting lapses and oversights.
"I think the bank has taken enough number of steps to improve their accounting and other practices, and on the whole, I think it is doing well," Malhotra told reporters at the RBI headquarters here.
Stressing that the banking system is very robust, Malhotra said while such episodes happen, they should not bother us too much till they are fewer in number.
Deputy Governor Swaminathan J said that IndusInd Bank, now under a transitory management, has delivered on all the regulatory asks over the past few months.
The Hindujas-promoted private sector lender took on board all the accounting discrepancies, held a forensic audit to fix responsibility, ensured that none of the customers or the broader banking system was impacted, and is also working on a succession plan, the DG said.
Swaminathan said there are a lot of learnings for the RBI from the crisis and added that it will look for red flags in the future so that it is able to anticipate a crisis much earlier.
The IndusInd Bank scrip gained 2.50 percent to close at Rs 823.30 apiece on the BSE, as against a 0.92 percent gain on the benchmark following the RBI comments.

Sebi investigates potential law violations by senior management at IndusInd Bank in an accounting fraud case as RBI addresses key issues.

Sebi Probes IndusInd Bank for Violations

Sebi examines possible violations by IndusInd Bank's senior management amidst an accounting scandal while RBI tackles overarching issues. The IndusInd Board has spotlighted involvement of key personnel in significant frauds affecting derivatives and balance sheet disclosures.

Sebi investigates potential law violations by senior management at IndusInd Bank

Sebi is investigating senior management violations at IndusInd Bank amid accounting fraud, while RBI handles broader issues.

Markets regulator Sebi is looking into any "egregious violations" by senior management of IndusInd Bank, which has been hit by accounting fraud, its chairman Tuhin Kanta Pandey said on Thursday.
Pandey said the issues at IndusInd Bank will be dealt with by the Reserve Bank of India (RBI), but Sebi is also looking at securities market violations by the officials of the crisis-hit bank.
"RBI is looking into whatever Sebi has to do in relation to... whatever Sebi's remit is... Sebi is doing... If there are any egregious violations by anyone in their capacity, Sebi is looking into it," Pandey told reporters on the sidelines of an event organised by industry body Assocham.
On Wednesday, IndusInd Bank's board said it suspects involvement of certain employees in the fraud and directed the bank to report the matter to investigative agencies and regulatory authorities.
Fraud in the derivatives and microfinance portfolio as well as balance sheet disclosures have rattled the private sector bank. The bank, that has seen top-level resignations, has ordered an internal audit review and is undergoing a forensics probe.
The internal audit report of the bank revealed "involvement of senior Bank officials, including former Key Management Personnel (KMP), in overriding key internal controls".
The bank has reported likely involvement of the senior management in the accounting fraud to the central government.
On April 29, CEO Sumant Kathpalia and Deputy CEO Arun Khurana resigned from the bank, following which IndusInd Board appointed a Committee of Executives to oversee the operations of the bank, till a new MD and CEO assume charge.

IndusInd Bank reports a Rs 2,100 crore accounting discrepancy, leading to a 27% share decline. Despite CEO Sumant Kathpalia's assurances of strong reserves, investor confidence falters. Independent review results expected by April.

IndusInd Bank's Rs 2,100 Crore Discrepancy

IndusInd Bank experiences a significant Rs 2,100 crore accounting issue, leading to a dramatic 27% stock market decline. Despite reassurances from CEO and a pending external review, concerns over leadership and financial stability persist.

IndusInd Bank faces Rs 2,100 Crore setback, shares plummet

IndusInd Bank faces a Rs 2,100 crore discrepancy in derivatives, causing shares to plunge 27%. Despite CEO assurances, confidence wanes. An independent review is ongoing, with results expected by April.

IndusInd Bank's handling of a significant Rs 2,100 crore accounting discrepancy failed to prevent a dramatic drop in its share value, which plummeted over 27% on the stock market.
CEO and Managing Director Sumant Kathpalia assured stakeholders that the bank retains sufficient reserves and capital to manage the fallout. However, this reassurance did little to stabilize investor confidence.
The discrepancy, which emerged in the bank's derivatives portfolio, was initially identified between September and October of the previous year.
The bank has since provided a preliminary update to the Reserve Bank of India (RBI), with the full impact expected to be clarified once an external agency completes its independent review by early April.
On Monday, IndusInd Bank disclosed through a stock exchange filing that the identified discrepancies could adversely affect about 2.35% of its net worth as of December 2024, according to an internal review.
Analysts have evaluated the financial discrepancy at roughly Rs 2,100 crore. To ensure thorough evaluation, the bank has hired an external agency to independently validate its findings.
Kathpalia affirmed that the bank's overall profitability and capital adequacy remain robust and capable of absorbing this one-off issue, which was self-identified by the bank.
The stock market reacted sharply, with IndusInd Bank shares plunging 27.17% to close at Rs 655.95 on the BSE. The stock hit a 52-week low of Rs 649, marking a 28% decline from the previous day's closing price of Rs 900.
During a late-night analyst call on Monday, Kathpalia explained that the discrepancies had accumulated in the bank's books over the last 5-7 years, prior to April 1, 2024.
This went undetected through various internal, statutory, compliance, and RBI audits.
The issues surfaced during a review of the internal trade book, prompted by an RBI circular issued in September 2023. The circular required the discontinuation of internal trade in derivatives starting April 1, 2024.
"We began noticing discrepancies in October, which prompted us to engage an external agency for a comprehensive review. We anticipate their report by the end of March or early April," Kathpalia stated.
Kathpalia also mentioned that a "preliminary update" on the discrepancy was communicated to the RBI last week.
When questioned during the analyst call about the impact of this issue on his potential reappointment as Managing Director, सुमंत Kathpalia paused, underscoring the broader implications of the discrepancy for bank leadership decisions.

IndusInd&nbsp;Bank shares plunged over 10% in Monday's trade to Rs 1,068.
This comes after a report, quoting whistleblowers, said a group of senior employees&nbsp;of&nbsp;IndusInd Bank's arm, Bharat Financial Inclusion (BFIL), have alerted the Reserve Bank of India (RBI) about lapses in governance and accounting norms to allegedly 'evergreen' loans running into thousands of crores since the outbreak of Covid-19.
However, the management of&nbsp;IndusInd Bank has refuted the allegations around the evergreening of loans, citing it as &lsquo;inaccurate and baseless.&rsquo;&nbsp;
The private bank mentioned, "Due to a technical glitch in May 2021, nearly 84,000 loans were disbursed without the customer consent getting recorded at the time of loan disbursement. This issue was highlighted by the field staff within two days and the technical glitch was rectified expeditiously."
Motilal&nbsp;Oswal&nbsp;in a note said that the stock could witness some pressure due to adverse media articles and the asset quality stress reported by some other MFI lenders. Nevertheless, the brokerage expects the impact to be controlled. "We maintain BUY, with unchanged target price of&nbsp;₹1,400," said Motilal Oswal.

Stock Shock: Why is IndusInd bank down 10%

IndusInd Bank has refuted the allegations around the evergreening of loans, citing it as ‘inaccurate and baseless.’ 

IndusInd Bank: Shares fall 10%

IndusInd Bank has refuted the allegations around the evergreening of loans, citing it as &lsquo;inaccurate and baseless.&rsquo;&nbsp;

IndusInd&nbsp;Bank shares plunged over 10% in Monday's trade to Rs 1,068.
This comes after a report&nbsp;said a group of senior employees&nbsp;of&nbsp;IndusInd Bank's arm, Bharat Financial Inclusion (BFIL), have alerted the Reserve Bank of India (RBI) about lapses in governance and accounting norms to allegedly 'evergreen' loans running into thousands of crores since the outbreak of Covid-19.
However, the management of&nbsp;IndusInd Bank has refuted the allegations around the evergreening of loans, citing it as &lsquo;inaccurate and baseless.&rsquo;&nbsp;
The private bank mentioned, "Due to a technical glitch in May 2021, nearly 84,000 loans were disbursed without the customer consent getting recorded at the time of loan disbursement. This issue was highlighted by the field staff within two days and the technical glitch was rectified expeditiously."
Motilal&nbsp;Oswal&nbsp;in a note said that the stock could witness some pressure due to adverse media articles and the asset quality stress reported by some other MFI lenders. Nevertheless, the brokerage expects the impact to be controlled. "We maintain BUY, with unchanged target price of&nbsp;₹1,400," said Motilal Oswal.

Sensex up 256 points, Nifty at 11,351; RIL, banks rise

Equity markets moved higher in the opening session on Thursday led by heavyweight Reliance and&nbsp;banking stocks.
At 9:30 am, the Sensex was 256 points up at 38,450. Similarly, the Nifty was 0.65% in the green at 11,351.
IndusInd Bank, Tata&nbsp;Motors, Bajaj&nbsp;Finserv, SBI and Reliance were the top five index movers.
Global sentiment was positive as the Dow Jones ended 439 points higher in the Wednesday session and&nbsp;all Asian bourses&nbsp;were also trading in the green.

11,351.05&nbsp; 73.05 (0.65%)
38,450.73 +256.81 +0.67%

Equity markets moved higher in the opening session on Thursday led by heavyweight Reliance and&nbsp;banking stocks.
At 9:30 am, the Sensex was 256 points up at 38,450. Similarly, the Nifty was 0.65% in the green at 11,351.
IndusInd Bank, Tata&nbsp;Motors, Bajaj&nbsp;Finserv, SBI and Reliance were the top five index movers.
Global sentiment was positive as the Dow Jones ended 439 points higher in the Wednesday session and&nbsp;all Asian bourses&nbsp;were also trading in the green.

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