💨 Abstract
The Reserve Bank of India has asked for the resignation of IndusInd Bank's CEO and deputy CEO due to accounting errors. The bank denies the claims and has appointed external investigators. The RBI wants an orderly transition to avoid panicking depositors and prefers external candidates. The bank's derivatives portfolio was overvalued by around 2.35%, and its shares have dropped over 30% this month.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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