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IndusInd Bank shares recover after falling nearly 6%

  • IndusInd Bank shares initially fell nearly 6% but later recovered, trading flat at ₹773.90 on the NSE and 2.75% higher at ₹792.30 on the BSE.
  • The bank reported a Q4 loss, with fresh slippages amounting to ₹5,014 crore, mainly from the microfinance and two-wheeler segments.
  • Accounting discrepancies led to a ₹1,960 crore hit on derivative trades, interest income reversal of ₹674 crore, and disclosure of a ₹172 crore fraud in the microfinance business.
  • IndusInd Bank board dealt with allegations of fraud involving key staff, leading to resignations. The bank is now under new non-executive leadership focusing on addressing past issues.

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