IndusInd Bank Shares Fall After Lender Suspects Staff Involvement In Rs 173 Cr Accounting Fraud
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IndusInd, India's fifth-largest private lender by assets, announced in March that it had identified accounting discrepancies in its derivative portfolio.
IndusInd Bank Share Price: IndusInd Bank's shares are in focus after the private lender suspects a staff involvement in a Rs 172.58 crore accounting discrepancy. Along with its q4 results, IndusInd Bank disclosed in the filing that 'the Board is also in the process of taking necessary steps to assess roles and responsibilities and fixing staff accountability as per the extant laws and internal code of conduct, in all the identified irregularities."
The irregularity came to light following investigations by an external professional firm and the bank's Internal Audit Department (IAD).
The IAD submitted its report on May 20, 2025, revealing that Rs. 172.58 crores were mistakenly recorded as fee income in the microfinance business over three quarters ending December 31, 2024. This amount was subsequently reversed in Q4 of FY 24-25, according to the bank's exchange filing.
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