IndusInd Bank must fix accounting discrepancy by Q4FY25: RBI
As per the audited financial results for the quarter ending December 31, 2024, the bank's Capital Adequacy Ratio stands at 16.46 per cent, and its Provision Coverage Ratio is 70.20 per cent.
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The Reserve Bank of India (RBI) on Saturday (March 15) directed IndusInd Bank's board and management to complete necessary corrective actions within the current quarter (Q4FY25), following comprehensive disclosures.
The central bank issued statement addressing recent speculations surrounding IndusInd Bank. It aims to reassure depositors and stakeholders regarding the bank's financial health.
No panic for investors, customers
RBI said, IndusInd Bank maintains a robust financial position with a strong capital base. Therefore there is no cause for depositors to react to these speculations. The bank's financial condition remains stable and is under close monitoring by the Reserve Bank of India.
As per the audited financial results for the quarter ending December 31, 2024, the bank's Capital Adequacy Ratio stands at 16.46 per cent, and its Provision Coverage Ratio is 70.20 per cent.
Furthermore, the bank's Liquidity Coverage Ratio was 113 per cent, exceeding the regulatory requirement of 100 per cent until March 9, 2025.
In response to recent developments, IndusInd Bank has engaged an external audit team to conduct a thorough examination of its existing systems and assess the potential impact.
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