IndusInd Bank slides after media report on whistleblower allegations

IndusInd Bank fell 2.92% to Rs 885.90, following a media report about a fresh whistleblower complaint against the private lender.

According to the media report, the complaint was sent to the Prime Minister's Office, the Reserve Bank of India (RBI), the Serious Fraud Investigation Office (SFIO), the National Financial Reporting Authority (NFRA) and other agencies.

The complaint reportedly seeks an investigation into alleged insider trading, governance failures and shortcomings in forensic and audit reviews. The allegations are linked to the discovery of a Rs 2,000-crore discrepancy at the bank.

The report said the complaint names Samir Agarwal, former zonal head of eastern India at IndusInd Bank.

It alleges insider trading, manipulation of financial records, evergreening of microfinance loans and suppression of audit findings. It also claims there were attempts to conceal irregularities.

According to the report, Agarwal allegedly made gains of around Rs 46 crore through share transactions worth nearly Rs 815 crore.

The complaint further alleges that confidential information obtained through his role at the bank was used to facilitate trades by family members and related entities.

According to the report, the whistleblower complaint was sent to the bank at the end of May.

Meanwhile, the stock exchanges have sought clarification from IndusInd Bank regarding the news report. The bank's response is awaited.

Indusind Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank reported a standalone net profit of Rs 532.71 crore in Q4 FY26, compared with a net loss of Rs 2,235.99 crore in the corresponding quarter last year. Total income rose 12.07% year-on-year (YoY) to Rs 12,711.77 crore in Q4 March 2026.

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