IndusInd Bank Limited has announced the appointment of an independent professional firm to conduct a comprehensive investigation into discrepancies identified in its derivative portfolio account balances. This decision was made during the Board of Directors meeting held on March 20, 2025.
The investigation aims to identify the root cause of the discrepancies, evaluate the correctness of the accounting treatment of derivative contracts as per prevailing standards, and establish any lapses or accountability related to the issue. The review will complement an ongoing external agency review disclosed earlier on March 10, 2025.
The findings of these investigations will be appropriately reflected in the bank’s financial statements upon completion. The Board meeting commenced at 5:20 PM and concluded at 6:57 PM IST.
Anand Kumar Das, Company Secretary of IndusInd Bank Limited, confirmed these developments in a regulatory filing with stock exchanges.
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Published on: March 20, 2025 at 8.00PM GMT.
Karnataka Bandh Scheduled for March 22
Pro-Kannada organizations have called for a 12-hour statewide bandh in Karnataka on March 22, from 6 am to 6 pm. The bandh is expected to affect public transportation, including KSRTC and Bangalore Metropolitan Transport Corporation (BMTC) services, as employee associations have expressed solidarity with the protest. However, Deputy Chief Minister D.K. Shivakumar stated that the state government does not support the bandh and will ensure normalcy.
As stated in Bhagavad Gita :
देहिनोऽस्मिन्यथा देहे कौमारं यौवनं जरा। तथा देहान्तरप्राप्तिर्धीरस्तत्र न मुह्यति।।
Just as the boyhood, youth, and old age come to the embodied Soul in this body, in the same manner, death comes.
