Arun Khurana, Deputy Chief Executive Officer and Whole-Time Director at IndusInd Bank, has tendered his resignation with immediate effect, following the discovery of significant accounting lapses within the bank’s treasury operations, which have resulted in a Rs 1,960 crore impact on its profit and loss accounts for the fiscal year ending March 2025.

Khurana, who had oversight of the bank’s Treasury Front Office function, cited the recent developments as the reason for stepping down. In his resignation letter addressed to the bank’s board on Monday, he stated: “Considering the recent unfortunate developments, wherein the Bank determined an adverse accounting impact on P&L, on account of incorrect accounting for internal derivative trades, I, having oversight of the Treasury Front office function, as the Whole-Time Director, Deputy CEO and a part of Senior Management of the bank, hereby resign, effective immediately.”