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IndusInd Bank utilizes Rs 1,325 crore contingency buffer amid accounting lapses and bad loan underreporting
IndusInd Bank addressed financial discrepancies in the March quarter. The bank used its contingency buffer to manage the impact. Accounting errors in the microfinance sector led to revenue reversal. Derivative-related issues also affected income. Net interest margin and income experienced declines. Total loans saw a slight increase, while deposits rose.
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