💨 Abstract

IndusInd Bank has hired an independent firm to investigate discrepancies found in its derivatives portfolio, dating back at least six years and estimated to impact $175 million. The bank's shares have decreased by 30% this month due to concerns over the issue and CEO Sumant Kathpalia's shorter-than-requested term extension. However, India's central bank has confirmed that the bank remains well-capitalized.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖