IndusInd Bank stock jumps nearly 6% after RBI assures customers of the bank's stability
The RBI in the clarificatory statement said there was no need for depositors to react to the speculative reports at this juncture.
Shares of IndusInd Bank jumped nearly 6 per cent on Monday morning trade after the Reserve Bank assured customers that the firm remains 'well-capitalised', even as it directed the bank's board to complete remedial action relating to estimated ₹2,100 crore accounting discrepancy within this month.
The stock rallied 5.30 per cent to ₹707.75 on the BSE.
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At the NSE, it surged 5.58 per cent to ₹709.90.
The stock emerged as the biggest gainer among the Sensex and Nifty firms.
Last week, IndusInd Bank disclosed a discrepancy in accounting with an estimated impact of 2.35 per cent of the bank's net worth. Soon after the disclosure, massive price correction in the bank's scrip was witnessed.
Based on the disclosures available in the public domain, the bank has already engaged an external audit team to comprehensively review their current systems, and to assess and account for the actual impact expeditiously, RBI said in a statement on Saturday.
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"The Board and the management have been directed by Reserve Bank to have the remedial action completed fully during the current quarter viz., Q4FY25, after making required disclosures to all stakeholders," it said.
Assuaging concerns of customers, the RBI in the clarificatory statement said there was no need for depositors to react to the speculative reports at this juncture.
There has been some speculation relating to IndusInd Bank Ltd in certain quarters, perhaps arising from recent events related to the bank, it said.
The central bank assured customers and investors that the bank's financial health remains stable and is being monitored closely by it.
