Is IndusInd Bank in Trouble?
IndusInd Bank Ltd has been the worst hit by the crisis.
The bank’s stock dropped 15% on Tuesday after the lender revealed in an investor call that it has lost 10-11% of its deposits since Yes Bank Ltd crumbled earlier this year.
State governments no longer think it is safe to keep money in the private sector bank..
Who is owner of IndusInd Bank?
Hinduja GroupIndusInd Bank/Owners
Why IndusInd Bank is falling?
Asset Quality Stress is Inevitable Due to COVID-19 Lockdown IndusInd was one of the banks which had significant exposure to IL&FS, of around Rs 3,000 crore. With no recovery in sight, this exposure has been provided for over quarters aggressively. The other grey area is the bank’s exposure to the telecom sector.
Is it good to invest in IndusInd Bank?
Trading below its book value (0. … 9x its FY22 estimated earnings), analysts at Nomura, UBS, and CLSA are positive, primarily for its beaten-down valuation.
Is it safe to deposit in IndusInd Bank?
Banks like Yes Bank, IndusInd, and IDFC First Bank need to offer a higher rate of interest to attract deposits. However, Kotak, SBI and others are all offering less than 6% as they are deemed to be the safest of the lot and are strong brands.
Is IndusInd Bank Debt Free?
IndusInd Bank on Wednesday said its promoter IndusInd Ltd, Mauritius has fully repaidthe loan to Citibank London and is now a debt-free firm.
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Is IndusInd Bank safe after Yes Bank?
The bank’s stock ended nearly 9 per cent down at Rs 604.30 on the BSE on Tuesday. Private sector lender IndusInd Bank has said it is financially strong, well-capitalised and profitable, amid market rumours about the health of the lender after the Yes Bank crisis came to light.
Is IndusInd Bank under RBI?
IndusInd Bank first bank to go live on RBI’s ‘Account Aggregator Framework’ Mumbai: IndusInd Bank announced that it has gone live as a ‘Financial Information Provider’ (FIP) under the new ‘Account Aggregator Framework’ of the Reserve Bank of India (RBI), making it the first bank in the country to do so.