Overview

• Governor Sanjay Malhotra said the accounting issues should settle very soon and affirmed RBI oversight will continue.
• Shares of IndusInd Bank jumped over 5% on June 6 after RBI remarks eased investor concerns.
• The bank reported a Rs 172.6 crore internal fraud and Rs 670 crore in microfinance income misstatements, triggering a Rs 2,000 crore hit to net worth.
• CEO Sumant Kathpalia and Deputy CEO Arun Khurana resigned in April and SEBI has barred five former executives from trading over alleged insider trading.
• Promoter Hinduja Group is in discussions with global pension and sovereign wealth funds to inject fresh capital into the bank.