IndusInd Bank shares plummet 27% on Rs 2,100 crore accounting issue, wiping out Rs 19,000 crore market value.
IndusInd Bank witnessed a significant 27% decline in its shares, plummeting to Rs 656 and wiping out a market value of Rs 19,000 crore. This sharp decrease was attri
IndusInd Bank witnessed a significant 27% decline in its shares, plummeting to Rs 656 and wiping out a market value of Rs 19,000 crore. This sharp decrease was attributed to a Rs 2,100 crore derivatives accounting discrepancy, causing a 2.4% reduction in the bank's net worth. Investor concerns regarding governance and risk management sparked apprehension, impacting similar small private banks in India such as Bandhan Bank and RBL.