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IndusInd bank well-capitalised; no need for depositors to worry: RBI – The Times of India

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IndusInd bank well-capitalised; no need for depositors to worry: RBI – The Times of India


The Reserve Bank of India (RBI) reassured depositors and stakeholders about IndusInd Bank’s financial health, saying that the bank is well-capitalised and remains stable despite ongoing concerns.
In a statement released on Saturday, the central bank said, “The Reserve Bank would like to state that the bank is well-capitalised and the financial position of the bank remains satisfactory.”
The apex bank said that for the quarter that ended on December 31, 2024, the bank maintained a capital adequacy ratio of 16.46 per cent and provision coverage ratio of 70.20 per cent.
“Additionally, the bank’s Liquidity Coverage Ratio (LCR) stood at 113 per cent as of 9 March 2025, exceeding the regulatory requirement of 100 per cent,” the bank said in a press release.
The central bank also noted that IndusInd Bank has engaged an external audit team to review its current systems and assess any financial impact promptly. The bank’s board and management have been directed to complete all remedial actions within the current quarter (Q4FY25) and make the necessary disclosures to stakeholders.
“There is no need for depositors to react to the speculative reports at this juncture. The bank’s financial health remains stable and is being monitored closely by Reserve Bank.,” the statement added.
The clarification followed IndusInd Bank’s own admission of discrepancies in its internal processes related to to other asset and other liability accounts of the derivative portfolio, post implementation of RBI Master Direction – Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2023 issued in September 2023, including accounting of Derivatives, applicable from April 01, 2024.
The bank engaged in internal trades with low liquidity, involving a swap arrangement where yen deposits with a tenure of 3–5 years were exchanged for dollar deposits with a tenure of 8–10 years for a multilateral entity.
In response, IndusInd Bank appointed an external agency to independently review and validate its internal findings, with the review expected to be completed by the fourth quarter.
Meanwhile, leadership changes have added to the bank’s challenges. Earlier this month, RBI granted CEO Sumant Kathpalia a one-year tenure extension, despite expectations of a three-year renewal. On 18 January 2025, the bank’s CFO also resigned, citing other professional opportunities.





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Pune company loses Rs 6.5 crore in cyber fraud – Times of India

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April 24, 2025

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Pune company loses Rs 6.5 crore in cyber fraud – Times of India



PUNE: Man-in-the-Middle (MitM) cyber frauds cheated a Pune-based firm, dealing in IT services and imports of dry fruits, out of Rs 6.5 crore on March 27.
MitM is a type of cyber fraud in which an attacker intercepts and relays communication between two parties, making it appear as if they are communicating directly.
As per the police complaint, the 39-year-old company director received an email on the company ID purportedly from a US firm he did business with about a payment request. He initiated the transaction believing the email request was legitimate. But later, when he contacted officials of the other firm, they denied receiving the amount. He checked the email he had received and discovered fraudsters had made two alterations – they changed one letter in the other firm’s email address and its bank account number.





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LIC to expedite claim settlements of Pahalgam terror victims

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April 24, 2025

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From The Hindu, April 25, 1975: Israel’s independence — Soviet offer


Life Insurance Corporation of India (LIC) on Thursday (April 24, 2025) announced that it will expedite claim settlements of Pahalgam terror attack victims in an effort to provide financial relief to their families.

Expressing deep grief over the death of innocent citizens in the terrorist attack, CEO and MD Siddharta Mohanty said LIC has decided to offer concessions to mitigate the hardships of the claimants.

In lieu of death certificates, any evidence in government records of death of the policyholder due to the terrorist attack or any compensation paid by the Union or State governments will be accepted as proof of death. All efforts will be taken to ensure that the claimants are reached out to and claims settled expeditiously to the affected families,” he said in a release.

For assistance, the claimants may contact the nearest LIC branch, division, or customer zones. They may also call LIC call centre at 022 68276827, the company said.

Insurance aggregator Policybazaar said it would like to offer a job to a family member in any of the Policybazaar or Paisabazaar offices located across India or sponsor a child’s education for every impacted Indian family in Pahalgam. “It is a very small gesture towards creating a social security cover for these families,” co-founder Alok Bansal said in a social media post.

Published – April 24, 2025 11:26 pm IST



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Like Voda Idea, now Airtel looks to convert govt’s statutory debt with equity swap – Times of India

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April 24, 2025

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Like Voda Idea, now Airtel looks to convert govt’s statutory debt with equity swap – Times of India


NEW DELHI: In a significant development, Bharti Airtel is understood to have approached the govt for swapping its statutory dues with equity, something that has been done in the case of beleaguered Vodafone Idea.The company is understood to have outstanding govt payment dues of over Rs 70,000 crore, including Rs 40,000 crore of AGR dues.
Sources said that Airtel believes that the measure will help it conserve cash, while also enabling the govt to be a part of a fast-growing enterprise which carries prospects of a growth in share price and resultant valuations. “A proposal to this effect is understood to have been submitted to the department of telecom,” a source said.
Airtel has not officially commented on the matter as yet.
The formula to swap the outstanding statutory payment dues with equity had been initiated by the department of telecom to help the industry, particularly loss-making Vodafone Idea tide over the financial challenges and continue as a going concern.
Airtel’s current market cap is around Rs 10.5 lakh crore, as per the details on the Bombay Stock Exchange. The company will need to transfer around 6% equity to the govt to clear its statutory dues. Shares of Airtel closed the day at Rs 1,845 on the BSE, down 2%.
Market analysts believe that govt has “a chance of realising positive returns” from the Airtel equity, considering that the company has been growing in profitability. This will be unlike Vodafone Idea where the value of its stake value has so far only fetched negative returns with the company’s scrip remaining below Rs 10 for most of the period of govt’s holding.
Govt had converted the Voda Idea statutory debt into equity at a price of Rs 10 per share, which is the face value. The current price of the company’s share is Rs 8, down one per cent at close on Thursday.





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