In a rare clarification, the Reserve Bank of India (RBI) has said that IndusInd Bank depositors need not worry.
“…there is no need for depositors to react to the speculative reports at this juncture. The bank's financial health remains stable and is being monitored closely by Reserve Bank,” the regulator said in a statement on its website.
IndusInd Bank remains well capitalised and its financial position remains satisfactory, RBI said.
As per auditor-reviewed financial results of the bank for the quarter ended December 31, 2024, the bank has maintained a comfortable Capital Adequacy Ratio of 16.46% and Provision Coverage Ratio of 70.20%. The Liquidity Coverage Ratio (LCR) of the bank was at 113% as on March 9, 2025, as against regulatory requirement of 100%, said the central bank.
The clarification comes days after IndusInd Bank disclosed an accounting discrepancy which led to a financial hit which is the equivalent of 2.35% of the bank's net worth as of December 31, 2024. According to the lender, this was discovered as part of its review of its derivatives portfolio.
“Basis the disclosures available in public domain, the bank has already engaged an external audit team to comprehensively review their current systems, and to assess and account for the actual impact expeditiously,” RBI said.
The Board and the management have been directed by RBI to have the remedial action completed fully during the current quarter viz., Q4FY25, after making required disclosures to all stakeholders, it said.
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