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The Reserve Bank of India (RBI) has requested IndusInd Bank to conduct a root cause analysis regarding its derivative losses, alongside an external audit by PwC and an independent investigation by Grant Thornton. This comes amid scrutiny over insider trading patterns in IndusInd shares, with notable transactions by executives following an RBI circular, but no activity since July 2024. Additionally, IndusInd Bank has received a GST penalty order of ₹30.15 crore due to various GST issues, which the bank plans to appeal. The penalty and ongoing accounting troubles are expected to keep IndusInd Bank's shares in focus in the market.
IndusInd Bank's shares will be in focus on Tuesday following the private sector lender's announcement that it has been hit with a penalty of Rs 30.15 crore #BusinessNews #Investments #Bank https://t.co/Yl9KhIcVKd
IndusInd Bank The CGST and Central Excise, Thane, has imposed a penalty of Rs 30.15 crore on the bank for various GST issues. The bank will explore filing an appeal against the order.
Amid ongoing accounting troubles, #IndusIndBank hit with Rs 30.15 crore penalty - Reason? https://t.co/fwxY7sCPkG
