Shares of IndusInd Bank Ltd. plunged nearly 28% on Tuesday, wiping out Rs 19,484.08 crore in market capitalisation and dragging its valuation below that of Yes Bank Ltd. (Photo source: NDTV Profit)
Private sector lender IndusInd Bank's efforts to explain away its Rs 1,520 crore hit on the balance sheet owing to "discrepancies" in its derivatives book have muddled an already complex accounting issue.On Monday evening, IndusInd Bank explained that the so-called discrepancies were discovered somewhere around October 2024. After that, the bank conducted an internal review, appointed an external agency to verify its review, and info...