Private lender IndusInd Bank has said that its board of directors have decided to appoint an independent professional firm to conduct a comprehensive investigation to identify the root cause of the discrepancies found in the derivatives portfolio.

The independent firm will also assess the correctness and impact of the accounting treatment of the derivatives contract.

The firm will also identify any lapses and establish accountability for the discrepancies.

The appointment of this firm is over and above the probe PwC is conducting in the banks derivatives portfolio.

On 10th March 2025, IndusInd Bank had disclosed that discrepancies of nearly Rs 1600 crore was found in its derivatives portfolio. It had also informed that an external agency was reviewing account balances relating to its derivative portfolios and that will be completed before the March quarter.