The Reserve Bank governor, Sanjay Malhotra, gave a positive outlook on the IndusInd Bank, speaking to the media at a press conference after the MPC meeting on Friday. In the post-meeting conference, the RBI Governor pointed out that the bank’s accounting condition has improved.
“I think the bank has taken enough steps to improve their accounting and other practices and on the whole I think the bank is doing well,” said RBI governor Malhotra.
6 big comments by the RBI governor that sent bank stocks surging
Deputy Governor J Swaminathan also shared the optimistic view on the bank’s future outlook. “Things should settle down soon,” the Deputy Governor added.
Earlier in April, IndusInd Bank had raised investor worries after an accounting discrepancy came to fore and close on the heels of the news that the CEO and MD, Sumant Kathpalia, and his deputy exited the company.
“Whatever that was supposed to play out (with IndusInd Bank) over the last 3 months is more or less on track,” the Deputy Governor added.
Hinduja Group to infuse fresh capital in IndusInd
Ashok Hinduja Group holds a 15.83 percent stake in the IndusInd Bank through IndusInd International Holdings Limited and IndusInd Limited. According to a report by Mint, the group, being the promoters of the bank, is in discussions with global pension funds and sovereign wealth funds for a long-term investment.
IndusInd Bank share rise
After the Reserve Bank Governor’s clarification, the bank’s share price rose as much as 5 percent intraday on Friday afternoon.
The share price had corrected significantly since the news came to limelight. It is now down almost 15% so far in 2025.
» Read More
