The accounting discrepancy at IndusInd Bank is more than just a one-off event. It is a stark reminder that risk management in India’s banking sector remains fragile, even after multiple regulatory interventions. While IndusInd Bank* has assured investors that its capital position is strong, the fact that discrepancies in its foreign exchange derivatives book went undetected for years should concern both regulators and markets alike.The broader question is: what must banks do to prevent such lapses from recurring?
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