IndusInd Bank Faces Moody's Downgrade Review Amid Accounting Discrepancy

Moody's has placed IndusInd Bank's baseline credit assessment under review for a possible downgrade following the bank's disclosure of a Rs 2,100 crore accounting discrepancy. However, the RBI has assured that the bank remains well-capitalized and its financial health is stable.

Global rating agency Moody's has placed IndusInd Bank's baseline credit assessment under review for a potential downgrade, following a significant revelation by the bank.

The bank disclosed a Rs 2,100 crore discrepancy in its accounting practices, constituting an estimated impact of 2.35% on its net worth.

Despite the looming downgrade threat, the Reserve Bank of India assured that IndusInd Bank remains 'well-capitalised' and directed it to address the accounting issue promptly.

(With inputs from agencies.)