The Reserve Bank of India (RBI) has directed the board of IndusInd Bank to ensure accountability for accounting lapses that triggered a steep drop in the bank’s market value in early March and eroded depositor and investor confidence. Although RBI did not name the bank explicitly during a recent press briefing, Deputy Governor J. Swaminathan said it is standard regulatory practice to initiate forensic audits and accountability reviews in such cases. Those found responsible—internal or external—will be investigated and face appropriate action for the lapses.
from Banking/Finance-Industry-Economic Times https://ift.tt/ifytnwb
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