IndusInd Bank CEO Sumant Kathpalia resigns, takes moral responsibility for ₹1,960-cr loss

Sumant Kathpalia has resigned from his position as IndusInd Bank's CEO over accounting discrepancies in derivatives trades. In his resignation letter, Kathpalia said he's taking "moral responsibility" for the accounting lapses, which are estimated to cost ₹1,960-crore loss to IndusInd Bank. This comes a day after the bank's Deputy CEO Arun Khurana also resigned citing the discrepancies.