IndusInd Bank posts record Rs 2,329 cr Q4 loss amid deep cleanup, leadership crisis

IndusInd Bank reported a record net loss of Rs 2,329 crore for the March quarter due to governance failures and misreporting. The bank faced increased NPAs, wrongly accounted derivative trades, and misclassified microfinance assets. Following leadership resignations, a new CEO is being sought to restore ethical standards and rebuild trust.