IndusInd Bank's Shares Surge Amid RBI Assurance

IndusInd Bank's stocks rose by nearly 6% following reassurances from the Reserve Bank that the bank is 'well-capitalised'. RBI has directed the bank to address a Rs 2,100 crore accounting discrepancy by the end of the month. The bank's management is engaging external auditors for a comprehensive review.

IndusInd Bank's shares experienced a nearly 6% rise on Monday morning, a response to the Reserve Bank's statement affirming the bank's 'well-capitalised' status. This comes amid directives for IndusInd's board to rectify a significant Rs 2,100 crore accounting issue within the month.

On the BSE, the stock climbed by 5.30% to reach Rs 707.75, and on the NSE, it saw a 5.58% increase to Rs 709.90, making it the top gainer among Sensex and Nifty firms. The boost follows last week's disclosure of an accounting discrepancy impacting the bank's net worth.

In a clarifying statement on Saturday, the RBI underscored that the bank's financial status remains stable and urged depositors against reacting to speculative reports. An external audit team has been brought in to assess the situation and ensure transparency.

(With inputs from agencies.)