💨 Abstract

IndusInd Bank, a private lender in India backed by the Hinduja Group, has reported an accounting discrepancy in its currency derivative bookings dating back six years, affecting $175 million, equivalent to a quarter's earnings. The Reserve Bank of India has assured that the bank remains well-capitalized and financially stable, and is closely monitoring the situation. IndusInd Bank has engaged an external audit team to review its systems and assess the actual impact.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖