💨 Abstract

IndusInd Bank, India's fifth-largest private lender with a balance sheet of $63 billion, has appointed Grant Thornton for a forensic review to investigate accounting lapses and potential fraud. The bank's shares have dropped 23.4% since March 10, when it disclosed a derivatives portfolio overvaluation of around 2.35% due to non-compliant internal trades.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖