SFIO to seek details from IndusInd Bank on accounting issues
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The SFIO officials have since held discussions with bank executives and are expected to formally seek details.
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ANUSHREE FADNAVIS
The Serious Fraud Investigation Office (SFIO) under the Ministry of Corporate Affairs is set to request specific information from IndusInd Bank concerning internal derivative trade accounting practices, unverified balances in the bank’s “other assets” and “other liabilities” categories, and microfinance-related interest and fee income.
According to a regulatory filing by the bank, Reserve Bank of India directives (dated July 15, 2024) require financial institutions to report fraud cases exceeding ₹1 crore to both the RBI and SFIO using identical documentation formats.
In compliance with these regulations, IndusInd Bank formally submitted details regarding these financial matters to the SFIO on June 2, 2025.
Bank officials confirmed telephonic communications with SFIO representatives on December 17-18, 2025, with the agency indicating forthcoming written requests for additional documentation. The bank stated it is awaiting formal correspondence.
Published on December 19, 2025
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