The firm has also been tasked with assessing the correctness and impact of the accounting treatment of the derivative contracts with regard to the prevailing accounting standards, as well as identifying any lapses and establishing accountability.
Last month, IndusInd disclosed to the exchanges that an internal review of processes related to its derivative portfolio revealed certain discrepancies, which will adversely impact its net worth by 2.35 per cent.
Incidents like the one involving IndusInd Bank or New India Cooperative Bank should not be termed as failures.
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