In the the post-monetary policy press conference today, RBI Deputy Governor J Swaminathan and Governor Sanjay Malhotra noted that the bank has taken corrective steps, including leadership changes, and that the situation should stabilize soon.
IndusInd Bank had earlier reported a Rs 1979 crore impact from misaccounted internal derivative trades and reversed Rs 674 crore in misreported microfinance interest. With the resignation of CEO Sumant Kathpalia and his deputy, the RBI believes the matter is largely under control.
IndusInd Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.
IndusInd Bank reported a standalone net loss of Rs 2,235.99 crore in Q4 FY25 as against a net profit of Rs 2,346.84 crore posted in Q4 FY24. Total income declined 22.83% year on year to Rs 11,342.65 crore in Q4 March 2025.