IndusInd Bank proposes Borkar & Muzumdar as joint statutory auditor after RBI's approval

IndusInd Bank has announced its proposal to appoint Borkar & Muzumdar as joint statutory auditors, following the green light from the Reserve Bank of India (RBI). This move aligns with regulatory requirements, ensuring the bank's financial operations are thoroughly examined by a reputable external entity. The decision underscores the bank's commitment to transparency and rigorous financial scrutiny. Borkar & Muzumdar is a well-established firm of Chartered Accountants with a strong track record in auditing services. Their expertise is expected to enhance the bank's financial audit processes, providing comprehensive insights into its accounting practices. The firm's appointment is part of IndusInd Bank's strategy to maintain high standards of financial integrity and stakeholder trust. The RBI's approval marks a significant step in the bank's governance framework, as it seeks to fortify its audit mechanisms amidst a dynamic financial landscape. This development is anticipated to bolster the bank's credibility and foster confidence among investors and clients. IndusInd Bank continues to prioritize robust financial oversight as a cornerstone of its operational ethos.

— Authored by Next24 Live