**IndusInd Bank to Explore Funding Options Amidst Financial Setback**
**Raising Capital through Long-Term Bonds**
IndusInd Bank is gearing up to discuss a crucial plan to raise funds through long-term bonds at its upcoming board meeting on July 23. This move comes on the heels of a significant financial setback, which saw the bank incur a loss of $230 million due to past misaccounting errors.
**Consequences of Misaccounting**
The misaccounting issue led to the resignation of the bank’s CEO and deputy in April, highlighting the severity of the situation. The bank is now looking to bounce back by exploring various funding options to strengthen its financial position.
**Other Funding Avenues Being Explored**
In addition to long-term bonds, IndusInd Bank is also evaluating potential capital increases through depository receipts and qualified institutional placements. These funding avenues could provide the bank with the necessary capital to overcome its current financial challenges and drive future growth.
**A Critical Moment for IndusInd Bank**
The upcoming board meeting on July 23 will be a critical moment for IndusInd Bank, as it looks to navigate its way out of a difficult financial situation. By exploring various funding options, the bank aims to regain stability and confidence in the market. Stay tuned for further updates on this developing story.
