In today’s newsletter, lots of space for SpaceX in India, with both Bharti Airtel and Reliance Jio announcing partnership agreements for Starlink. But first, the crisis in India’s fifth-largest private bank — IndusInd.

India's central bank said on Saturday that private lender IndusInd Bank is well-capitalised and the financial position of the bank remains satisfactory. Earlier this month, IndusInd Bank reported it had discovered an accounting discrepancy in the way it booked currency derivatives stretching back at least six years.

The Reserve Bank of India (RBI) has said that IndusInd Bank is adequately capitalised and financially stable and there is no need for depositors to react to speculation.

The bank had last week revealed a potential 2.35 per cent adverse impact on its net worth after an internal review of its derivative portfolio. The derivative losses will have an approximate impact of Rs 2,

IndusInd Bank reported that discrepancies in its derivative portfolio may result in a decrease of approximately 2.35% in its net worth as of December 2024.

The Reserve Bank of India issued a statement, assuring the depositors that the bank is well-capitalised and financially stable, and that there is no reason to react to speculative reports

The Reserve Bank of India confirmed IndusInd Bank's strong financial parameters and robust health amid reported discrepancies. IndusInd Bank is implem

Indian private lender IndusInd Bank said on Monday it expects a 2.35% decline in its net worth as of December 2024, due to some discrepancies in its accounts found during an internal review.

The Reserve Bank of India has confirmed that IndusInd Bank is financially stable and adequately capitalised. Depositors are advised not to react to speculation concerning the bank's foreign exchange derivative portfolio discrepancies,