Crisil Ratings places

INDUSINDBK

on rating watch with negative implications

Crisil Ratings has placed

long-term debt instruments under rating watch with negative implications, following key managerial resignations and a review of its microfinance business. Concerns over internal financial controls and the impact on profitability are being closely monitored. The agency awaits clarity on the MFI discrepancies and their potential impact on the bank's operations.