IndusInd Bank posts ₹437 crore loss on accounting errors
IndusInd Bank just found nearly ₹2,000 crore in accounting errors for the year ending March 2025 and has set up a special Project Management Group to sort things out.
The new CEO, Rajiv Anand (who took charge in August 2025), says the bank is working fast to tighten controls—especially in microfinance and derivatives—so this doesn't happen again.
Committed to making our systems stronger going forward: IndusInd
After spotting these issues, IndusInd's board boosted its financial provisions for bad loans and losses from ₹1,820 crore last year to ₹2,631 crore this July-September.
That hit hard: the bank posted a net loss of ₹437 crore for the quarter, compared to a profit of ₹1,331 crore during the same period last year.
Despite all this, IndusInd says it's committed to making its systems stronger going forward.