The IndusInd Bank on Thursday said that the lender’s Internal Audit Department report showed that it had incorrectly recorded Rs 674 crores as interest for three quarters of fiscal 2025. The report, submitted on May 8, also found unsubstantiated balances aggregating to Rs 595 crore in “other assets” accounts of the bank, the Hinduja Group-owned…
Fixed deposits are a popular investment option that not only helps save money but also offers attractive interest rates. Investors with a low risk appetite often prefer FDs due to the assured returns. According to Paisabazaar, FD interest rates at scheduled banks currently fluctuate between 2.5% and 9% per annum for regular depositors with tenures…
IndusInd Bank has appointed Grant Thornton to conduct a forensic review into accounting lapses detected this month and to check if there is any evidence of fraud or internal misstatements, said two people with direct knowledge of the matter. IndusInd is India’s fifth-largest private lender with a balance sheet of $63 billion. Its shares have…
The joint auditors of the Hinduja Group-promoted IndusInd Bank-MP Chitale & Co and MSKA & Associates-have written to the bank’s board requesting a forensic audit of the derivatives portfolio, highly placed sources within the bank who are privy to the discussions told ET. Following this request, the board has initiated the process of selecting a…
1 / 7 The third-quarter earnings season (Q3 FY25) is in full swing, with around 140 companies set to announce their results this week. Key players to watch include Tata Steel, Bajaj Auto, L&T, Adani Enterprises, Adani Ports, TVS Motor, Bajaj Finserv, Bajaj Finance, Maruti Suzuki, Tata Motors, IndusInd Bank, ONGC, Suzlon Energy, and Nestle…
