IndusInd Bank Deputy CEO Resigns Amidst Rs 1,960 Crore Accounting Lapses

Deputy CEO of IndusInd Bank, Arun Khurana, resigns following accounting lapses causing a loss of Rs 1,960 crore. His resignation is effective immediately as the bank grapples with adverse impacts on its financial statements due to incorrect internal derivative trades.

Arun Khurana, Deputy CEO of IndusInd Bank, has stepped down after the discovery of significant accounting lapses totaling Rs 1,960 crore. The losses stemmed from erroneous accounting for internal derivative trades, as reported in the fiscal period ending March 2025.

In his resignation letter addressed to the bank's board, Khurana explained his decision citing the recent unfavorable developments that affected the bank's Profit & Loss account. He expressed his intention to resign immediately, acknowledging his role in overseeing the Treasury Front Office function.

Khurana, who had served as Whole Time Director and a key part of the bank's senior management, also thanked the Board for their support throughout his tenure. He offered his assistance to facilitate a seamless transition. As of April 28, 2025, his resignation takes effect alongside ongoing assessments of the bank's net worth.

(With inputs from agencies.)