IndusInd Bank’s accounting lapse brings mutual fund exposure in focus IndusInd Bank’s accounting discrepancy has sparked investor concerns, leading to a sharp decline in its stock price and impacting mutual funds with significant holdings in the bank. ICICI Prudential Mutual Fund holds the largest stake, with investments of over Rs 3,700 crore across 36 schemes, … Read more
Non-life insurance premiums decline in February amid accounting changes, slower Growth Premiums of non-life insurance companies fell 2.82% year-on-year (Y-o-Y) in February to Rs 21,747.57 crore, impacted by revised accounting norms and a slowdown in the health and motor insurance segments. The decline comes amid an overall 6.6% Y-o-Y growth in non-life premiums to Rs … Read more
IndusInd Bank’s accounting lapse, what went wrong? IndusInd Bank’s recent disclosure of accounting deficiencies in its derivatives portfolio has raised serious concerns among investors and analysts. The bank estimates a financial impact of Rs 16 billion post-tax and Rs 21 billion pre-tax, highlighting a mismatch in how it accounted for internal and external forex hedging … Read more
