IndusInd Bank CEO Sumant Kathpalia resigns
He accepted responsibility for the derivatives portfolio discrepancy that caused a nearly Rs 2,000 crore impact on the lender’s finances.

Subscribe to read this story
We publish over 500 original, detailed stories every year on startups, corporates, stock markets and economic current affairs.
$99 for one year
Not ready to subscribe? Sign up for a free account
We value our free readers. Read 100+ stories every year.
More in Business
You may also like
Exits not enough, RBI wants IndusInd Bank to do more
After the derivatives hedging fiasco triggered the resignations of top executives, indications are that the regulator expects the private lender’s board to do a thorough cleanup.
IndusInd Bank’s near Rs 2,000 cr financial dent was caused by ‘incorrect accounting’
An independent investigation, in its report, blames the notional recording of profits by the bank in its internal derivatives trades.
IndusInd Bank needs the Hindujas to take the wheel
A gaping hole in its books in the midst of a leadership crisis has seriously impacted India’s fifth largest private sector lender. Can its MIA promoters step up and restore the confidence of depositors and investors?