💨 Abstract

IndusInd Bank, India's fifth-largest private sector bank, raised $2 billion in higher-cost bulk deposits in March, its largest monthly haul in at least two years, to shore up its funding base following disclosed accounting lapses. The bank flagged a $175 million hole in its balance sheet due to derivatives portfolio discrepancies, leading to governance concerns and a forensic review by Grant Thornton.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖