IndusInd Bank is beginning a new financial year not with a fresh start but with a forced reckoning. A staggering ₹23.29 billion loss in the final quarter of 2024-25 has exposed serious cracks in the institution’s foundations fuelled by governance failures and accounting lapses. Misstatements and suspected fraud have not only hit the balance sheet but also corroded the bank’s credibility.While the management now insists that all known irregularities have been recognised, this is less a clean slate than a scorched one. The loss wasn’t a one-off aberration; it was the cumulative outcome of misreported income, misclassified assets, and overridden internal controls. Most damningly, these failures were not systemic flukes, but conscious concealment.
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