IndusInd Bank shares plummet 33% in March

IndusInd Bank's shares have seen a sharp decline, dropping 33 percent in March alone and 29 percent since the start of the year. This comes as the bank faces scrutiny over its financial practices. On March 10, IndusInd Bank revealed that its derivatives portfolio was overvalued by about 2.35 percent. The bank identified issues with internal trades, leading to potential losses of around ₹2,000 crore for the current quarter. Despite the ongoing concerns, IndusInd Bank has rejected reports suggesting that the Reserve Bank of India (RBI) has asked its CEO, Sumant Kathpalia, and deputy CEO, Arun Khurana, to resign. The bank called these reports "factually inaccurate" and stated its commitment to resolving the issues. Investors will be closely watching the bank's performance in the upcoming days as it deals with these challenges.