Indusind Bank Ltd Identifies Root Cause of Discrepancies, Faces INR 1959.98 Crores Adverse Accounting Impact

Indusind Bank Ltd has disclosed the findings of an independent professional firm's investigation into the discrepancies revealed on 10th March 2025. The Firm identified incorrect accounting of internal derivative trades, especially in case of early termination, as the principal root cause for accounting discrepancy. This led to a cumulative adverse accounting impact on P&L at INR 1959.98 crores as on 31st March 2025. The Bank will reflect the impact in the financial statements for FY 2024-25 and strengthen internal controls. The Report also examined the roles and actions of key employees, and the Board is taking necessary steps to fix accountability and re-align roles and responsibilities of senior management.