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The National Financial Reporting Authority (NFRA) has received a complaint against crisis-ridden IndusInd Bank, which has prompted the audit watchdog to gather inputs from the banking regulator, a person aware of the development said.
NFRA has received the complaint over accounting discrepancies in IndusInd Bank’s forex derivative portfolio through the Centralised Public Grievance Redress and Monitoring System, which is an online platform for citizens to lodge their grievances with the authorities.
The authority, however, is in talks with the Reserve Bank of India (RBI) to cross-check the investigations, including a forensic audit, that the central bank has conducted so far to avoid duplication, sources said.
“If RBI is already looking into the same issues and they are the regulators of banks, then NFRA need not do the same exercise again,” the source said.
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