Skip to content
Free updates Login
BankingNABARD / RBI

NFRA Gets Complaint on IndusInd Bank Accounting Lapses

28 May 20251 min read
BANKING & FINANCENFRA GetsComplaint onIndusInd BankAccounting Lapses28 May 2025safalsetu.com

Why in the news

The National Financial Reporting Authority (NFRA) received a complaint through CPGRAMS over alleged accounting lapses at IndusInd Bank, tied to its derivatives book.

Key facts

  • The bank flagged the discrepancies on March 10, 2025.
  • NFRA and RBI: NFRA is asking whether RBI already ran a forensic audit; as primary bank regulator, RBI’s work may make NFRA hold back.
  • SEBI chief Tuhin Kanta Pandey said the regulator is checking for securities law violations or egregious misconduct.

Implications

  • Three agencies’ interest may make it a high-profile probe.
  • NFRA could scrutinise the statutory auditors.
  • Suspected fraud raises governance red flags.

Test yourself

1. Through which portal did NFRA receive the complaint about IndusInd Bank's accounting lapses?

The complaint came via CPGRAMS.

2. When did IndusInd Bank disclose the derivatives accounting discrepancies?

The disclosure was on March 10, 2025.

3. Why is NFRA consulting RBI on the IndusInd Bank matter?

NFRA wants to check whether RBI has already probed it.

This topic is part of Daily Current Affairs 26 & 27 May 2025 (23 topics).

All topics of the dayDay quizMay 2025

Read more