accounting discrepancies

IndusInd to provide for Rs 1,960 cr losses in Q4, to take action against staff

by
IndusInd to provide for Rs 1,960 cr losses in Q4, to take action against staff

Mumbai: IndusInd Bank said on Sunday it would absorb ₹1,959.98 crore-or the full impact-of losses from incorrect accounting practices in its March earnings. It also promised action against errant employees and sought to strengthen accountability through a realignment of roles. “The board is taking necessary steps to fix accountability of the persons responsible for these … Read more

HDFC Mutual Fund increases stake in IndusInd Bank despite stock plunging 32%

by
HDFC Mutual Fund increases stake in IndusInd Bank despite stock plunging 32%

HDFC Mutual Fund has increased its stake in IndusInd Bank by acquiring an additional 0.20% of the bank’s paid-up shares. This move comes during a period of significant market fluctuation for the bank, which recently faced a sharp decline in its share value after announcing discrepancies in its internal derivatives accounting. The banking stock closed … Read more