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IndusInd Bank Faces Rs 30.15 Crore Penalty

  • IndusInd Bank's shares will be in focus on Tuesday after the announcement of a Rs 30.15 crore penalty by the Joint Commissioner of CGST & Central Excise, Thane Commissionerate.
  • The bank is considering filing an appeal against the penalty, though specific details of the GST issues were not disclosed.
  • IndusInd Bank reported a 39% year-on-year decline in net profit for the third quarter, with net interest income also falling short of analysts' expectations.
  • The bank's asset quality deteriorated, with an increase in gross and net non-performing assets.
  • IndusInd Bank has appointed Grant Thornton to conduct a forensic review of accounting discrepancies in its derivatives portfolio.

Source: News 18, The Economic Times

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