Tue Apr 22 08:40:00 UTC 2025: ## IndusInd Bank Stock Plunges After Second Forensic Audit Ordered
**Mumbai, India** – Shares of IndusInd Bank plummeted as much as 6 percent on April 22nd, following the announcement of a second forensic audit by Ernst & Young (EY). The audit will investigate a reported Rs 600 crore discrepancy in accrued interest income from the bank’s microfinance portfolio. This comes in addition to an ongoing Grant Thornton Bharat (GTB) investigation into irregularities in the bank’s forex derivatives accounting. A previous PwC review estimated potential losses from the forex irregularities at Rs 1,979 crore, significantly higher than initial estimates.
Despite the ongoing investigations and a 11 percent decline in its stock price since March 10th, IndusInd Bank’s shares have rebounded 16 percent over the past five trading sessions. This recovery is attributed to investor confidence in the bank’s proactive approach to addressing the issues. The bank also recently promoted Santosh Kumar to Deputy Chief Financial Officer.
The EY audit will examine operational lapses, potential fraud, and assign responsibility for the discrepancies. While the bank has taken steps to address the issues, the multiple investigations underscore the seriousness of the financial irregularities. Investors are closely monitoring developments. [Note: This article includes information about the Traders Gurukul options trading event and a Moneycontrol App promotion which are not directly related to the core news regarding IndusInd Bank and have been omitted for brevity in this rewritten news article.]
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