The Reserve Bank of India (RBI) has reassured depositors of IndusInd Bank that “there is no cause for concern” amid recent worries about the bank’s financial health. IndusInd Bank recently revealed that it faced some financial discrepancies concerning its currency derivative transactions over the past seven to eight years, which will result in a financial hit of Rs 1,600 crore.
“There has been some speculation relating to IndusInd Bank in certain quarters, perhaps arising from recent events related to the bank. The Reserve Bank would like to state that the bank (IndusInd Bank) is well-capitalised and the financial position of the bank remains satisfactory,” the RBI said in a press release on March 15, 2025.
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The RBI stepped in to assure depositors and stakeholders regarding the bank’s strong financial position. “The bank’s financial health remains stable,” the RBI in the release said, adding that the central bank continues to monitor the situation closely. “As per auditor-reviewed financial results of the bank for the quarter ended December 31, 2024, the bank has maintained a comfortable capital adequacy ratio of 16.46% and a provision coverage ratio of 70.20%. The liquidity coverage ratio (LCR) of the bank was at 113% as of March 9, 2025, as against a regulatory requirement of 100%,” RBI said.
The RBI further stated: “Basis on the disclosures available in the public domain, the bank has already engaged an external audit team to comprehensively review their current systems, and to assess and account for the actual impact expeditiously. The Board and the management have been directed by the RBI to have the remedial action completed fully during the current quarter viz., Q4FY25, after making required disclosures to all stakeholders.”
Depositors and investors are advised not to react to unverified reports and instead rely on official disclosures and regulatory updates, the central bank said.IndusInd FD Interest Rates
The bank offers interest rates between 3.50% and 7.75% to general citizens for fixed deposit (FD) tenures ranging from 7 days to 10 years. For senior citizens, the bank offers interest rates between 4% and 8.25% for FD tenures ranging from 7 days to 10 years.
The highest interest rate of 7.75% for general citizens and 8.25% for senior citizens is offered on FD tenures between 1 year 5 months and below 1 year 6 months. The rates are applicable from February 24, 2025.
IndusInd Savings Account Interest Rates
IndusInd Bank offers savings account interest rate between 3% and 7% depending on the daily balance.
How is savings account interest calculated?
The rates are applicable on domestic/non-resident (NRE/NRO) savings accounts, the interest on daily balances is calculated as below, as per the bank website:
a. 3.0% for daily balances up to Rs 1 lakh
b. 3.50% for daily balances above 1 lakh and up to Rs 5 lakh; please note 3.50% will be paid on incremental balances above Rs 1 lakh up to Rs 5 lakh
c. 5% for balances above Rs 5 lakh and up to Rs 10 lakh; please note 5% will be paid on incremental balance above Rs 5 lakh up to Rs.10 lakh
d. 7% for balances above Rs 10 lakh and up to Rs 5 crore; please note 7% will be paid on incremental balance above Rs 10 lakh up to Rs 5 crore
e. 7% for balances above Rs 5 crore and up to Rs 100 crore, please note 7% will be paid on the entire balance.
