IndusInd Bank chiefs to exit within months after accounting lapses

The Reserve Bank of India has urged the CEO of IndusInd Bank and his deputy to step down after significant accounting lapses as soon as replacements are found and the central bank has approved them, according to four sources familiar with the conversations. IndusInd is India's fifth largest private lender, with a 5.4 trillion rupee ($63 billion) balance sheet. On March 10 it disclosed that its derivatives portfolio was overvalued by around 2.35% - about $175 million - after non-compliant internal trades.