Grant Thornton To Investigate IndusInd Bank’s Rs 1,580 Crore Accounting Discrepancy

IndusInd Bank has appointed Grant Thornton to conduct a forensic review of the Rs 1,580 crore discrepancies detected in its derivatives portfolio earlier this month.

The review will assess any potential fraud or internal misstatements. The bank disclosed the discrepancy on March 10, which could impact its net worth by 2.35% as of December 2024. Grant Thornton will assign accountability for the lapses and review the accounting treatment of derivative contracts. IndusInd Bank had earlier announced the appointment of an independent firm for the investigation. The Reserve Bank of India (RBI) has stated that the bank remains financially stable and well-capitalised despite recent events.

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