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Looking into ‘egregious violations’ by IndusInd Bank officials: SEBI chief

  • SEBI Chief is investigating securities market violations by IndusInd Bank officials in regards to the crisis-hit bank.
  • RBI will also be involved in addressing the issues at IndusInd Bank, including potential fraud and regulatory matters.
  • IndusInd Bank suspects certain employees of involvement in fraud related to derivatives and microfinance portfolio, leading to top-level resignations.
  • Internal audit revealed senior bank officials overriding key controls, prompting the bank to report likely senior management involvement in accounting fraud to the central government.

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